BMO Capital Markets Trims Rubrik (NYSE:RBRK) Target Price to $38.00

Rubrik (NYSE:RBRK) had its price objective decreased by BMO Capital Markets from $40.00 to $38.00 in a research report released on Tuesday morning, Marketbeat reports. BMO Capital Markets currently has an outperform rating on the stock.

RBRK has been the subject of several other reports. Guggenheim reissued a buy rating and set a $48.00 price objective on shares of Rubrik in a research note on Tuesday, June 25th. Robert W. Baird initiated 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. Barclays lifted their price objective on Rubrik from $41.00 to $42.00 and gave the company an overweight rating in a research note on Wednesday, June 12th. Wedbush reissued an outperform rating and set a $50.00 target price on shares of Rubrik in a research report on Wednesday, June 12th. Finally, Citigroup boosted their price objective on shares of Rubrik from $46.00 to $47.00 and gave the stock a buy rating in a research note on Thursday, June 13th. Fifteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Rubrik has an average rating of Buy and an average target price of $44.69.

Rubrik Trading Down 8.3 %

NYSE RBRK opened at $30.73 on Tuesday. The stock’s 50-day simple moving average is $33.58. Rubrik has a twelve month low of $28.34 and a twelve month high of $40.00.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data 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 analyst estimates of $171.60 million. On average, equities analysts anticipate that Rubrik will post -7.7 EPS for the current year.

Institutional Trading of Rubrik

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dragoneer Investment Group LLC acquired a new position in Rubrik during the 2nd quarter worth $47,523,000. Clearbridge Investments LLC bought a new position in shares of Rubrik during the second quarter worth about $32,888,000. EPIQ Capital Group LLC acquired a new position in Rubrik in the second quarter worth about $15,111,000. Zweig DiMenna Associates LLC bought a new stake in Rubrik in the second quarter valued at about $6,730,000. Finally, Ensign Peak Advisors Inc acquired a new stake in Rubrik during the second quarter valued at approximately $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.