Rubrik (NYSE:RBRK) Given New $48.00 Price Target at Robert W. Baird

Rubrik (NYSE:RBRK) had its target price boosted by Robert W. Baird from $42.00 to $48.00 in a research report released on Thursday morning, Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also recently commented on RBRK. BMO Capital Markets lowered their price target on Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, September 10th. CIBC lifted their target price on Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Wedbush increased their price target on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Cantor Fitzgerald restated an “overweight” rating and set a $50.00 price objective on shares of Rubrik in a research note on Tuesday, September 10th. Finally, Piper Sandler assumed coverage on shares of Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Sixteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Rubrik has a consensus rating of “Buy” and an average target price of $45.00.

Rubrik Trading Up 0.3 %

Shares of NYSE:RBRK opened at $41.38 on Thursday. The company’s 50-day simple moving average is $35.18. Rubrik has a 1 year low of $28.34 and a 1 year high of $43.95.

Rubrik (NYSE:RBRK) last released its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing the consensus estimate of ($0.96) by ($0.01). The business had revenue of $204.95 million for the quarter, compared to the consensus estimate of $195.58 million. Research analysts expect that Rubrik will post -7.94 EPS for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the completion of the transaction, the chief financial officer now directly owns 423,060 shares of the company’s stock, valued at $16,668,564. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total transaction of $481,017.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total value of $59,100.00. Following the sale, the chief financial officer now owns 423,060 shares of the company’s stock, valued at approximately $16,668,564. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 391,412 shares of company stock valued at $13,162,625.

Hedge Funds Weigh In On Rubrik

Hedge funds have recently made changes to their positions in the company. Quent Capital LLC acquired a new position in Rubrik in the 3rd quarter valued at $192,000. Mount Yale Investment Advisors LLC purchased a new position in shares of Rubrik in the third quarter worth about $208,000. Register Financial Advisors LLC acquired a new position in Rubrik during the second quarter worth about $227,000. Sei Investments Co. acquired a new position in Rubrik during the second quarter worth about $235,000. Finally, PFG Investments LLC purchased a new stake in Rubrik during the 2nd quarter valued at about $242,000.

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.