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

Rubrik, Inc. (NYSE:RBRK) has earned a consensus rating of “Buy” from the nineteen analysts that are covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $61.88.

A number of research analysts have issued reports on the company. Citigroup boosted their target price on Rubrik from $48.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, December 6th. CIBC increased their target price on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research note on Tuesday, September 10th. Wedbush raised their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Truist Financial increased their price objective on shares of Rubrik from $50.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Oppenheimer started coverage on shares of Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock.

Rubrik Stock Down 0.8 %

Shares of NYSE:RBRK opened at $69.22 on Friday. The company has a 50 day moving average price of $44.16 and a two-hundred day moving average price of $36.71. Rubrik has a 52 week low of $28.34 and a 52 week high of $73.90.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. As a group, equities research analysts anticipate that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total value of $3,274,000.00. Following the completion of the transaction, the insider now owns 56,736 shares of the company’s stock, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ravi Mhatre sold 15,933 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The disclosure for this sale can be found here. In the last quarter, insiders have sold 574,912 shares of company stock worth $22,673,114.

Hedge Funds Weigh In On Rubrik

Several institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. acquired a new position in shares of Rubrik during the third quarter worth $25,000. KBC Group NV bought a new stake in Rubrik during the 3rd quarter worth $72,000. Quent Capital LLC acquired a new position in Rubrik in the 3rd quarter worth about $192,000. Mount Yale Investment Advisors LLC acquired a new position in Rubrik in the 3rd quarter worth about $208,000. Finally, Barclays PLC raised its position in Rubrik by 140.6% in the third quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after purchasing an additional 7,029 shares during the last quarter. Institutional investors own 49.54% of the company’s stock.

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.