Rubrik (NYSE:RBRK) Price Target Increased to $48.00 by Analysts at Wedbush

Rubrik (NYSE:RBRK) had its target price lifted by Wedbush from $44.00 to $48.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently weighed in on the stock. Citigroup upped their price target on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Piper Sandler began coverage on Rubrik in a research note on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective for the company. Robert W. Baird began coverage on Rubrik in a research note on Monday, July 15th. They set an “outperform” rating and a $42.00 price target for the company. CIBC boosted their price objective on shares of Rubrik from $50.00 to $52.00 and gave the stock an “outperformer” rating in a research report on Tuesday, September 10th. Finally, Wells Fargo & Company reduced their price target on shares of Rubrik from $42.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, September 10th. Sixteen equities 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.com, the stock currently has a consensus rating of “Buy” and an average target price of $44.65.

Rubrik Stock Performance

Shares of RBRK opened at $38.87 on Wednesday. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.36. The firm has a fifty day moving average price of $33.66.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data on Monday, September 9th. The company reported ($0.97) 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. As a group, equities research analysts expect that Rubrik will post -7.95 EPS for the current year.

Insider Transactions at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 15,933 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were 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 accessible through the SEC website. In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $31.25, for a total transaction of $781,250.00. Following the transaction, the executive now directly owns 437,545 shares in the company, valued at $13,673,281.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Ravi Mhatre sold 15,933 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The disclosure for this sale can be found here. Insiders sold 368,329 shares of company stock valued at $12,241,803 over the last quarter.

Institutional Investors Weigh In On Rubrik

Several institutional investors and hedge funds have recently made changes to their positions in the company. Quent Capital LLC acquired a new position in shares of Rubrik in the 3rd quarter valued at about $192,000. Register Financial Advisors LLC acquired a new stake in shares of Rubrik during the 2nd quarter worth approximately $227,000. Sei Investments Co. acquired a new position in Rubrik during the 2nd quarter valued at approximately $235,000. PFG Investments LLC acquired a new stake in Rubrik in the second quarter worth $242,000. Finally, Natixis Advisors LLC bought a new stake in Rubrik in the second quarter valued at $406,000.

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.