Rubrik, Inc. (NYSE:RBRK) Given Average Recommendation of “Buy” by Brokerages

Shares of Rubrik, Inc. (NYSE:RBRK) have received a consensus rating of “Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat reports. Fifteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $45.13.

A number of equities research analysts have recently issued reports on RBRK shares. Cibc World Mkts upgraded Rubrik to a “strong-buy” rating in a research report on Tuesday, May 21st. Guggenheim reaffirmed a “buy” rating and issued a $48.00 target price on shares of Rubrik in a research note on Tuesday, June 25th. Capital One Financial assumed coverage on shares of Rubrik in a research report on Monday, May 20th. They set an “overweight” rating and a $42.00 price target on the stock. Truist Financial initiated coverage on shares of Rubrik in a research report on Monday, May 20th. They set a “buy” rating and a $43.00 price objective for the company. Finally, CIBC assumed coverage on shares of Rubrik in a report on Tuesday, May 21st. They issued an “outperformer” rating and a $50.00 target price on the stock.

Rubrik Stock Performance

Shares of RBRK stock opened at $34.82 on Wednesday. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $40.00. The company has a fifty day moving average price of $33.19.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Tuesday, June 11th. The company reported ($11.47) earnings per share for the quarter, missing the consensus estimate of ($10.88) by ($0.59). The firm had revenue of $187.32 million for the quarter, compared to analysts’ expectations of $171.60 million. Sell-side analysts expect that Rubrik will post -7.7 EPS for the current year.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently bought and sold shares of RBRK. Register Financial Advisors LLC purchased a new stake in Rubrik during the second quarter worth about $227,000. Zweig DiMenna Associates LLC acquired a new position in shares of Rubrik in the second quarter valued at approximately $6,730,000. EFG Asset Management North America Corp. purchased a new stake in Rubrik during the 2nd quarter worth approximately $925,000. ARK Investment Management LLC acquired a new stake in Rubrik during the 2nd quarter worth approximately $6,043,000. Finally, Cisco Systems Inc. purchased a new position in Rubrik in the 2nd quarter valued at approximately $5,613,000.

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.