Robert W. Baird Issues Pessimistic Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price target decreased by stock analysts at Robert W. Baird from $125.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price target points to a potential upside of 91.77% from the stock’s previous close.

RBRK has been the subject of several other reports. Mizuho cut their price target on shares of Rubrik from $97.00 to $80.00 and set an “outperform” rating for the company in a report on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Rubrik in a report on Friday, December 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Rubrik in a research note on Monday, December 29th. Piper Sandler reduced their target price on Rubrik from $118.00 to $99.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. Finally, KeyCorp decreased their price target on Rubrik from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Rubrik currently has an average rating of “Moderate Buy” and an average target price of $101.05.

Rubrik Price Performance

Rubrik stock opened at $57.36 on Friday. The firm has a market capitalization of $11.48 billion, a P/E ratio of -29.42 and a beta of 0.45. The stock has a fifty day moving average price of $61.25 and a two-hundred day moving average price of $72.84. Rubrik has a 52-week low of $46.36 and a 52-week high of $103.00.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, December 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.16) by $0.26. The firm had revenue of $350.17 million during the quarter, compared to analyst estimates of $320.19 million. The firm’s revenue for the quarter was up 48.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.21) EPS. On average, equities research analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 20,000 shares of the stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $67.66, for a total value of $1,353,200.00. Following the transaction, the chief financial officer owned 489,959 shares of the company’s stock, valued at approximately $33,150,625.94. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Ravi Mhatre sold 101,659 shares of the firm’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $81.82, for a total value of $8,317,739.38. The SEC filing for this sale provides additional information. Insiders sold 261,378 shares of company stock valued at $19,381,131 in the last three months. 32.38% of the stock is currently owned by corporate insiders.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently modified their holdings of the stock. Allworth Financial LP grew its holdings in Rubrik by 1,030.8% during the second quarter. Allworth Financial LP now owns 294 shares of the company’s stock valued at $26,000 after purchasing an additional 268 shares during the period. Bogart Wealth LLC raised its holdings in Rubrik by 352.2% in the third quarter. Bogart Wealth LLC now owns 312 shares of the company’s stock worth $26,000 after purchasing an additional 243 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Rubrik by 1,360.0% during the third quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $30,000 after purchasing an additional 340 shares in the last quarter. Financial Life Planners bought a new position in shares of Rubrik during the third quarter worth $31,000. Finally, Atlantic Union Bankshares Corp grew its holdings in shares of Rubrik by 100.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after buying an additional 200 shares during the period. 49.54% of the stock is owned by institutional investors.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).