KeyCorp Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its target price lifted by analysts at KeyCorp from $48.00 to $57.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective would suggest a potential upside of 15.77% from the company’s current price.

RBRK has been the subject of several other reports. Citigroup lifted their price objective on Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays raised their target price on shares of Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday. Robert W. Baird increased their price target on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Piper Sandler started coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price on the stock. Finally, BMO Capital Markets dropped 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. One research analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $46.71.

Rubrik Stock Up 9.0 %

Rubrik stock opened at $49.23 on Friday. The stock has a 50 day moving average of $38.27 and a two-hundred day moving average of $34.82. Rubrik has a twelve month low of $28.34 and a twelve month high of $49.73.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The company had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. Analysts predict that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Rubrik

In other news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the firm’s 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 sale, the insider now owns 56,736 shares in the company, valued at approximately $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 454,512 shares of company stock valued at $15,813,462 over the last ninety days.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RBRK. Dragoneer Investment Group LLC acquired a new position in Rubrik in the 2nd quarter worth $47,523,000. Champlain Investment Partners LLC purchased a new stake in shares of Rubrik during the third quarter worth about $44,418,000. Point72 Asset Management L.P. purchased a new stake in shares of Rubrik during the third quarter worth about $42,247,000. PointState Capital LP acquired a new position in shares of Rubrik in the third quarter worth about $40,466,000. Finally, Institutional Venture Management XV LLC boosted its holdings in Rubrik by 3,620.4% in the third quarter. Institutional Venture Management XV LLC now owns 1,162,610 shares of the company’s stock valued at $37,378,000 after purchasing an additional 1,131,360 shares during the last quarter.

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.