Rubrik (NYSE:RBRK) Stock Price Expected to Rise, KeyCorp Analyst Says

Rubrik (NYSE:RBRK) had its price objective upped by KeyCorp from $98.00 to $113.00 in a research report released on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other brokerages also recently commented on RBRK. Robert W. Baird cut their price target on shares of Rubrik from $83.00 to $76.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Cantor Fitzgerald upped their target price on Rubrik from $85.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Wells Fargo & Company increased their price target on Rubrik from $76.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, March 14th. Wall Street Zen lowered Rubrik from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Roth Capital initiated coverage on Rubrik in a research report on Thursday, May 15th. They issued a “buy” rating and a $97.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $95.81.

Rubrik Stock Performance

NYSE RBRK opened at $98.03 on Friday. The business’s 50 day moving average price is $75.32 and its 200-day moving average price is $69.56. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $103.00. The company has a market cap of $18.60 billion, a P/E ratio of -34.64 and a beta of 0.87.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.17. The firm had revenue of $278.48 million for the quarter, compared to the consensus estimate of $260.39 million. During the same quarter last year, the firm earned ($1.58) EPS. The company’s revenue was up 48.7% on a year-over-year basis. As a group, equities analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Transactions at Rubrik

In related news, CTO Arvind Nithrakashyap sold 32,477 shares of the company’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $99.83, for a total value of $3,242,178.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Yvonne Wassenaar sold 3,000 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $70.03, for a total transaction of $210,090.00. Following the transaction, the director now owns 153 shares in the company, valued at approximately $10,714.59. The trade was a 95.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 632,609 shares of company stock valued at $47,450,968. 32.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Russell Investments Group Ltd. bought a new position in Rubrik in the fourth quarter worth approximately $28,000. PNC Financial Services Group Inc. bought a new stake in Rubrik during the 1st quarter valued at $30,000. Summit Securities Group LLC purchased a new position in shares of Rubrik in the 1st quarter valued at $31,000. Global Retirement Partners LLC raised its position in shares of Rubrik by 8,333.3% in the 4th quarter. Global Retirement Partners LLC now owns 506 shares of the company’s stock worth $33,000 after acquiring an additional 500 shares in the last quarter. Finally, Comerica Bank raised its holdings in Rubrik by 209.0% in the first quarter. Comerica Bank now owns 584 shares of the company’s stock worth $36,000 after purchasing an additional 395 shares in the last quarter. 49.54% of the stock is currently owned by institutional investors.

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.