Rubrik (NYSE:RBRK) Price Target Raised to $50.00

Rubrik (NYSE:RBRK) had its price objective increased by Truist Financial from $43.00 to $50.00 in a research report sent to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

Several other brokerages also recently issued reports on RBRK. Piper Sandler initiated coverage on shares of Rubrik in a research report on Monday, August 19th. They set an “overweight” rating and a $42.00 price objective for the company. Wedbush raised their price objective on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. FBN Securities started coverage on shares of Rubrik in a research report on Monday, September 30th. They set an “outperform” rating and a $40.00 price objective for the company. CIBC raised their target price on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a report on Tuesday, September 10th. Finally, Citigroup raised their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. One analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik presently has an average rating of “Buy” and a consensus target price of $46.18.

Rubrik Trading Up 2.1 %

Shares of NYSE:RBRK opened at $45.16 on Monday. Rubrik has a 52-week low of $28.34 and a 52-week high of $45.90. The company has a 50-day simple moving average of $37.90 and a 200 day simple moving average of $34.72.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data 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 business had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. On average, equities research analysts anticipate that Rubrik will post -8.04 earnings per share for the current year.

Insiders Place Their Bets

In other Rubrik news, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total transaction of $3,278,327.04. Following the sale, the executive now owns 462,545 shares of the company’s stock, valued at approximately $14,486,909.40. The trade was a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kiran Kumar Choudary sold 10,000 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $44.48, for a total transaction of $444,800.00. Following the sale, the chief financial officer now directly owns 385,360 shares in the company, valued at approximately $17,140,812.80. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 454,512 shares of company stock valued at $15,813,462.

Hedge Funds Weigh In On Rubrik

Hedge funds have recently modified their holdings of the business. Diversified Trust Co acquired a new position in shares of Rubrik during the third quarter worth $432,000. Davidson Kempner Capital Management LP acquired a new position in shares of Rubrik during the second quarter worth $2,606,000. Bank of Montreal Can acquired a new position in shares of Rubrik during the second quarter worth $427,000. ARK Investment Management LLC acquired a new position in shares of Rubrik during the second quarter worth $6,043,000. Finally, EPIQ Capital Group LLC acquired a new position in shares of Rubrik during the second quarter worth $15,111,000.

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.