Rubrik (NYSE:RBRK) Given New $110.00 Price Target at Truist Financial

Rubrik (NYSE:RBRK) had its price target lifted by Truist Financial from $90.00 to $110.00 in a research note published on Friday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other analysts have also issued reports on the stock. William Blair initiated coverage on shares of Rubrik in a research note on Friday, February 7th. They issued a “market perform” rating for the company. BMO Capital Markets reissued an “outperform” rating and issued a $110.00 price objective (up from $77.00) on shares of Rubrik in a report on Friday. Piper Sandler decreased their target price on Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research report on Tuesday, April 8th. Roth Capital started coverage on Rubrik in a report on Thursday, May 15th. They issued a “buy” rating and a $97.00 price target for the company. Finally, Robert W. Baird raised their price objective on Rubrik from $95.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.81.

Rubrik Trading Down 0.5%

NYSE RBRK opened at $98.03 on Friday. The stock has a market cap of $18.60 billion, a P/E ratio of -34.64 and a beta of 0.87. The company’s fifty day simple moving average is $75.32 and its 200-day simple moving average is $69.25. Rubrik has a 52 week low of $28.34 and a 52 week high of $103.00.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.17. The firm had revenue of $278.48 million during the quarter, compared to analyst estimates of $260.39 million. During the same quarter in the prior year, the firm earned ($1.58) EPS. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. On average, research analysts expect that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity

In other news, CRO Brian K. Mccarthy sold 25,000 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was sold at an average price of $70.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the executive now directly owns 331,043 shares of the company’s stock, valued at $23,173,010. This trade represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Arvind Nithrakashyap sold 32,484 shares of the business’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $52.04, for a total value of $1,690,467.36. Following the sale, the chief technology officer now owns 186,795 shares in the company, valued at approximately $9,720,811.80. The trade was a 14.81% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 632,609 shares of company stock worth $47,450,968. 32.38% of the stock is owned by company insiders.

Institutional Investors Weigh In On Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in shares of Rubrik during the 4th quarter worth about $28,000. PNC Financial Services Group Inc. acquired a new position in Rubrik during the first quarter valued at approximately $30,000. Summit Securities Group LLC bought a new position in shares of Rubrik in the first quarter valued at approximately $31,000. Global Retirement Partners LLC lifted its stake in shares of Rubrik by 8,333.3% in the fourth quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after buying an additional 500 shares during the last quarter. Finally, Comerica Bank boosted its holdings in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock worth $36,000 after buying an additional 395 shares during the period. 49.54% of the stock is owned by hedge funds and other institutional investors.

About Rubrik

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.