Citigroup Boosts Rubrik (NYSE:RBRK) Price Target to $48.00

Rubrik (NYSE:RBRK) had its target price increased by Citigroup from $47.00 to $48.00 in a report published on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently commented on RBRK. Robert W. Baird started coverage on Rubrik in a research report on Monday, July 15th. They set an outperform rating and a $42.00 price objective on the stock. Piper Sandler started coverage on Rubrik in a research report on Monday, August 19th. They set an overweight rating and a $42.00 price objective on the stock. Truist Financial reiterated a buy rating and set a $43.00 price objective on shares of Rubrik in a research report on Tuesday. BMO Capital Markets reduced their price objective on Rubrik from $40.00 to $38.00 and set an outperform rating on the stock in a research report on Tuesday. Finally, CIBC lifted their price objective on Rubrik from $50.00 to $52.00 and gave the stock an outperformer rating in a research report on Tuesday. Fifteen research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Rubrik presently has an average rating of Buy and a consensus target price of $44.69.

Rubrik Trading Down 0.8 %

Shares of NYSE:RBRK opened at $30.50 on Wednesday. The stock has a 50 day moving average price of $33.54. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Tuesday, June 11th. The company reported ($11.47) EPS for the quarter, missing analysts’ consensus estimates of ($10.88) by ($0.59). The company had revenue of $187.32 million during the quarter, compared to analysts’ expectations of $171.60 million. Research analysts anticipate that Rubrik will post -7.93 EPS for the current fiscal year.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently modified their holdings of RBRK. Dragoneer Investment Group LLC purchased a new stake in shares of Rubrik in the 2nd quarter valued at $47,523,000. Clearbridge Investments LLC acquired a new position in Rubrik during the 2nd quarter worth $32,888,000. EPIQ Capital Group LLC acquired a new position in Rubrik during the 2nd quarter worth $15,111,000. Zweig DiMenna Associates LLC acquired a new position in Rubrik during the 2nd quarter worth $6,730,000. Finally, Ensign Peak Advisors Inc acquired a new position in Rubrik during the 2nd quarter worth $6,287,000.

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.