Rubrik (NYSE:RBRK) Given New $115.00 Price Target at Cantor Fitzgerald

Rubrik (NYSE:RBRK) had its target price lifted by Cantor Fitzgerald from $95.00 to $115.00 in a report published on Friday morning, Marketbeat Ratings reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other analysts also recently weighed in on the stock. Wall Street Zen downgraded shares of Rubrik from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. KeyCorp boosted their target price on Rubrik from $98.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets raised their price target on Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, March 14th. Wells Fargo & Company boosted their price objective on shares of Rubrik from $76.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 14th. Finally, UBS Group reaffirmed a “buy” rating on shares of Rubrik in a research note on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.81.

Rubrik Price Performance

Shares of RBRK opened at $98.03 on Friday. Rubrik has a 1-year low of $28.34 and a 1-year high of $103.00. The company has a market capitalization of $18.60 billion, a P/E ratio of -34.64 and a beta of 0.87. The firm’s 50 day simple moving average is $75.32 and its 200 day simple moving average is $69.25.

Rubrik (NYSE:RBRK) last released its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share 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 the consensus estimate of $260.39 million. The business’s quarterly revenue was up 48.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.58) EPS. On average, equities analysts anticipate that Rubrik will post -7.66 earnings per share for the current year.

Insider Transactions at Rubrik

In other news, Director Yvonne Wassenaar sold 3,000 shares of Rubrik stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $70.03, for a total transaction of $210,090.00. Following the transaction, the director now owns 153 shares in the company, valued at $10,714.59. This trade represents a 95.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Arvind Nithrakashyap sold 32,477 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $99.83, for a total transaction of $3,242,178.91. The disclosure for this sale can be found here. Insiders have sold a total of 632,609 shares of company stock worth $47,450,968 in the last ninety days. Insiders own 32.38% of the company’s stock.

Institutional Trading of Rubrik

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new position in shares of Rubrik during the 4th quarter valued at approximately $28,000. PNC Financial Services Group Inc. bought a new position in shares of Rubrik in the first quarter worth approximately $30,000. Summit Securities Group LLC purchased a new stake in shares of Rubrik in the first quarter worth $31,000. Global Retirement Partners LLC increased 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 purchasing an additional 500 shares in the last quarter. Finally, Comerica Bank raised its position in shares of Rubrik by 209.0% during the 1st quarter. Comerica Bank now owns 584 shares of the company’s stock valued at $36,000 after purchasing an additional 395 shares during the period. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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.