Rubrik (NYSE:RBRK) Given New $40.00 Price Target at Wells Fargo & Company

Rubrik (NYSE:RBRK) had its price target trimmed by Wells Fargo & Company from $42.00 to $40.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts also recently issued reports about the company. KeyCorp lifted their target price on Rubrik from $46.00 to $48.00 and gave the stock an overweight rating in a research report on Wednesday, June 12th. Piper Sandler assumed coverage on Rubrik in a report on Monday, August 19th. They set an overweight rating and a $42.00 price objective on the stock. Cibc World Mkts upgraded Rubrik to a strong-buy rating in a research report on Tuesday, May 21st. Cantor Fitzgerald reaffirmed an overweight rating and issued a $50.00 target price on shares of Rubrik in a research report on Tuesday. Finally, Truist Financial started coverage on shares of Rubrik in a report on Monday, May 20th. They issued a buy rating and a $43.00 price target on the stock. Fifteen research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of Buy and a consensus price target of $44.69.

Rubrik Stock Performance

Shares of RBRK stock opened at $30.73 on Tuesday. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00. The business’s fifty day moving average is $33.58.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Register Financial Advisors LLC acquired a new stake in Rubrik during the 2nd quarter valued at $227,000. Sei Investments Co. bought a new stake in shares of Rubrik during the second quarter worth $235,000. PFG Investments LLC acquired a new stake in shares of Rubrik in the second quarter valued at $242,000. Natixis Advisors LLC bought a new position in shares of Rubrik in the second quarter valued at about $406,000. Finally, Bank of Montreal Can bought a new position in shares of Rubrik in the second quarter valued at about $427,000.

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.