Rubrik, Inc. (NYSE:RBRK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Rubrik, Inc. (NYSE:RBRK) has been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $100.38.

A number of brokerages have recently weighed in on RBRK. Roth Capital lifted their price target on shares of Rubrik from $97.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, June 6th. Wall Street Zen upgraded shares of Rubrik from a “hold” rating to a “buy” rating in a report on Saturday, June 7th. Cantor Fitzgerald raised their price objective on shares of Rubrik from $95.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Mizuho lowered shares of Rubrik from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $75.00 to $86.00 in a report on Thursday, May 15th. Finally, Wells Fargo & Company raised their price objective on shares of Rubrik from $80.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, June 6th.

Rubrik Price Performance

RBRK opened at $88.02 on Friday. Rubrik has a one year low of $28.60 and a one year high of $103.00. The company’s 50 day simple moving average is $89.61 and its 200-day simple moving average is $74.81. The stock has a market capitalization of $17.03 billion, a P/E ratio of -31.10 and a beta of 0.46.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The business had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. During the same period in the previous year, the business posted ($1.58) earnings per share. Rubrik’s revenue was up 48.7% compared to the same quarter last year. As a group, analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $85.97, for a total value of $2,149,250.00. Following the completion of the sale, the executive owned 431,052 shares of the company’s stock, valued at $37,057,540.44. The trade was a 5.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Yvonne Wassenaar sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $88.21, for a total transaction of $176,420.00. Following the completion of the sale, the director directly owned 2,855 shares of the company’s stock, valued at $251,839.55. This represents a 41.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,229,515 shares of company stock worth $109,999,877 in the last ninety days. Insiders own 32.38% of the company’s stock.

Hedge Funds Weigh In On Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the company. ST Germain D J Co. Inc. acquired a new position in shares of Rubrik in the 2nd quarter valued at approximately $27,000. Russell Investments Group Ltd. acquired a new position in Rubrik during the 4th quarter worth approximately $28,000. Beacon Capital Management LLC acquired a new position in Rubrik during the 2nd quarter worth approximately $29,000. PNC Financial Services Group Inc. acquired a new position in Rubrik during the 1st quarter worth approximately $30,000. Finally, Summit Securities Group LLC acquired a new position in Rubrik during the 1st quarter worth approximately $31,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

Rubrik Company Profile

Rubrik, Inc provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors.