Cantor Fitzgerald Upgrades Rubrik (NYSE:RBRK) to Strong-Buy

Rubrik (NYSE:RBRK) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other analysts have also commented on the stock. Barclays boosted their price objective on shares of Rubrik from $42.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup boosted their price objective on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Wedbush boosted 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 assumed coverage on shares of Rubrik in a report on Monday, September 30th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Robert W. Baird boosted their target price on shares of Rubrik from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Rubrik has an average rating of “Buy” and an average price target of $46.71.

Rubrik Stock Performance

Shares of NYSE RBRK opened at $49.23 on Wednesday. The firm has a 50 day moving average price of $38.27 and a 200 day moving average price of $34.82. Rubrik has a 52-week low of $28.34 and a 52-week high of $49.73.

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 analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million for the quarter, compared to analysts’ expectations of $195.58 million. On average, sell-side analysts forecast that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, CFO Kiran Kumar Choudary sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $44.48, for a total transaction of $444,800.00. Following the completion of the sale, the chief financial officer now owns 385,360 shares of the company’s stock, valued at $17,140,812.80. This trade represents a 2.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Barry Eggers sold 100,000 shares of the stock in a transaction on Thursday, September 19th. The stock was 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 in the company, valued at approximately $1,857,536.64. This represents a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 454,512 shares of company stock valued at $15,813,462.

Hedge Funds Weigh In On Rubrik

Large investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new stake in shares of Rubrik during the 3rd quarter worth $25,000. KBC Group NV bought a new stake in shares of Rubrik during the 3rd quarter worth $72,000. Quent Capital LLC bought a new stake in shares of Rubrik during the 3rd quarter worth $192,000. Mount Yale Investment Advisors LLC purchased a new stake in Rubrik in the 3rd quarter worth about $208,000. Finally, Register Financial Advisors LLC purchased a new stake in Rubrik in the 2nd quarter worth about $227,000.

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.