Barclays Lowers Rubrik (NYSE:RBRK) Price Target to $70.00

Rubrik (NYSE:RBRK) had its target price decreased by equities research analysts at Barclays from $100.00 to $70.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 27.74% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Stephens initiated coverage on Rubrik in a report on Monday, December 29th. They set an “overweight” rating and a $105.00 price target for the company. Mizuho reduced their target price on Rubrik from $97.00 to $80.00 and set an “outperform” rating for the company in a research note on Tuesday, February 17th. UBS Group restated a “buy” rating on shares of Rubrik in a research note on Friday, December 5th. Roth Mkm reaffirmed a “buy” rating on shares of Rubrik in a report on Friday, December 5th. Finally, Guggenheim set a $110.00 price objective on shares of Rubrik in a report on Friday, December 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rubrik has an average rating of “Moderate Buy” and a consensus target price of $102.11.

Rubrik Trading Up 1.7%

NYSE RBRK opened at $54.80 on Tuesday. The firm has a market capitalization of $10.97 billion, a P/E ratio of -28.10 and a beta of 0.45. The firm’s fifty day moving average price is $62.13 and its two-hundred day moving average price is $73.23. Rubrik has a 1 year low of $46.36 and a 1 year high of $103.00.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.26. The firm had revenue of $350.17 million for 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 earned ($0.21) earnings per share. On average, research analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Transactions at Rubrik

In other Rubrik news, CFO Kiran Kumar Choudary sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $67.66, for a total transaction of $1,353,200.00. Following the completion of the transaction, the chief financial officer directly owned 489,959 shares in the company, valued at $33,150,625.94. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Arvind Nithrakashyap sold 31,450 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $76.19, for a total value of $2,396,175.50. Following the transaction, the chief technology officer directly owned 342,703 shares of the company’s stock, valued at $26,110,541.57. This trade represents a 8.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 261,378 shares of company stock worth $19,381,131. Corporate insiders own 32.38% of the company’s stock.

Hedge Funds Weigh In On Rubrik

A number of institutional investors have recently added to or reduced their stakes in the stock. Allworth Financial LP grew its stake in shares of Rubrik by 1,030.8% during the second quarter. Allworth Financial LP now owns 294 shares of the company’s stock worth $26,000 after buying an additional 268 shares during the last quarter. Bogart Wealth LLC boosted its holdings in shares of Rubrik by 352.2% during the 3rd quarter. Bogart Wealth LLC now owns 312 shares of the company’s stock valued at $26,000 after acquiring an additional 243 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Rubrik by 1,360.0% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $30,000 after acquiring an additional 340 shares during the last quarter. Financial Life Planners bought a new position in Rubrik in the third quarter valued at about $31,000. Finally, Atlantic Union Bankshares Corp boosted its stake in shares of Rubrik by 100.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after purchasing an additional 200 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors and hedge funds.

About Rubrik

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).