Cantor Fitzgerald Issues Pessimistic Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its target price reduced by Cantor Fitzgerald from $105.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 52.58% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Barclays reduced their price objective on shares of Rubrik from $100.00 to $70.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Stephens initiated coverage on Rubrik in a report on Monday, December 29th. They set an “overweight” rating and a $105.00 target price for the company. KeyCorp dropped their price target on shares of Rubrik from $95.00 to $80.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 17th. Roth Mkm restated a “buy” rating on shares of Rubrik in a research report on Friday, December 5th. Finally, Citigroup reaffirmed a “buy” rating on shares of Rubrik in a research report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Rubrik presently has a consensus rating of “Moderate Buy” and a consensus price target of $98.68.

Rubrik Price Performance

Rubrik stock traded down $1.46 during mid-day trading on Monday, reaching $55.71. The stock had a trading volume of 1,666,743 shares, compared to its average volume of 3,739,918. Rubrik has a one year low of $46.36 and a one year high of $103.00. The company has a market capitalization of $11.15 billion, a price-to-earnings ratio of -28.57 and a beta of 0.46. The company has a 50-day moving average price of $61.25 and a two-hundred day moving average price of $72.75.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Thursday, December 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. The firm had revenue of $350.17 million during the quarter, compared to the consensus estimate of $320.19 million. During the same quarter in the previous year, the company earned ($0.21) earnings per share. The business’s revenue for the quarter was up 48.3% compared to the same quarter last year. On average, equities research analysts anticipate that Rubrik will post -7.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Arvind Nithrakashyap sold 4,648 shares of the stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $70.40, for a total value of $327,219.20. Following the completion of the transaction, the chief technology officer directly owned 337,010 shares in the company, valued at approximately $23,725,504. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Wendell Thompson sold 11,000 shares of Rubrik stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $53.62, for a total transaction of $589,820.00. Following the transaction, the director owned 4,653 shares in the company, valued at approximately $249,493.86. This trade represents a 70.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 261,378 shares of company stock worth $19,381,131. 32.38% of the stock is owned by company insiders.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC increased its position in shares of Rubrik by 12.0% during the second quarter. NewEdge Advisors LLC now owns 1,400 shares of the company’s stock valued at $125,000 after acquiring an additional 150 shares in the last quarter. Atlantic Union Bankshares Corp increased its holdings in Rubrik by 100.0% in the 4th quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock valued at $31,000 after acquiring an additional 200 shares during the last quarter. CI Investments Inc. lifted its stake in shares of Rubrik by 31.7% in the 3rd quarter. CI Investments Inc. now owns 859 shares of the company’s stock valued at $71,000 after purchasing an additional 207 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Rubrik by 24.3% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,146 shares of the company’s stock valued at $94,000 after buying an additional 224 shares during the period. Finally, Creative Planning lifted its position in Rubrik by 5.3% in the second quarter. Creative Planning now owns 4,668 shares of the company’s stock worth $418,000 after buying an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and security company that delivers a unified platform for data protection, disaster recovery, compliance and intelligent data governance. Its flagship offering, the Rubrik Security Cloud, enables organizations to automate backup and recovery workflows across on-premises, edge and multi-cloud environments. By combining policy-driven orchestration with real-time threat detection, Rubrik helps clients guard against ransomware, ensure business continuity and enforce data retention requirements.

The company’s platform supports a range of services including backup and restore, long-term data archiving, replication, and disaster recovery as a service (DRaaS).