Cantor Fitzgerald Reaffirms Overweight Rating for Rubrik (NYSE:RBRK)

Cantor Fitzgerald reiterated their overweight rating on shares of Rubrik (NYSE:RBRK) in a research note published on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the stock.

Several other equities research analysts have also weighed in on RBRK. Wells Fargo & Company started coverage on Rubrik in a research note on Monday, May 20th. They issued an overweight rating and a $42.00 price objective on the stock. CIBC assumed coverage on Rubrik in a research note on Tuesday, May 21st. They set an outperformer rating and a $50.00 price objective for the company. BMO Capital Markets reduced their target price on shares of Rubrik from $40.00 to $38.00 and set an outperform rating on the stock in a research note on Tuesday. Truist Financial started coverage on shares of Rubrik in a research report on Monday, May 20th. They set a buy rating and a $43.00 target price for the company. Finally, Citigroup boosted their price target on shares of Rubrik from $46.00 to $47.00 and gave the company a buy rating in a research report on Thursday, June 13th. Fifteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $44.69.

Rubrik Stock Performance

RBRK opened at $30.73 on Tuesday. The business’s fifty day simple moving average is $33.58. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $40.00.

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

Institutional Investors Weigh In On Rubrik

A number of institutional investors and hedge funds have recently modified their holdings of RBRK. Dragoneer Investment Group LLC bought a new position in Rubrik in the second quarter valued at approximately $47,523,000. Clearbridge Investments LLC bought a new position in shares of Rubrik in the 2nd quarter worth $32,888,000. EPIQ Capital Group LLC acquired a new stake in shares of Rubrik during the second quarter worth $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 position in Rubrik in the second quarter valued at about $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.