Rubrik (NYSE:RBRK) Earns Buy Rating from Analysts at Roth Capital

Roth Capital began coverage on shares of Rubrik (NYSE:RBRK) in a research report sent to investors on Thursday, MarketBeat.com reports. The brokerage issued a buy rating and a $97.00 target price on the stock.

RBRK has been the topic of several other research reports. BMO Capital Markets raised their price objective on Rubrik from $72.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. Wedbush raised their price objective on Rubrik from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, March 14th. UBS Group reiterated a “buy” rating on shares of Rubrik in a research note on Tuesday, April 29th. Piper Sandler decreased their target price on shares of Rubrik from $87.00 to $72.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Finally, William Blair started coverage on shares of Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $71.05.

Rubrik Price Performance

NYSE:RBRK opened at $85.40 on Thursday. The firm has a market capitalization of $16.21 billion and a PE ratio of -6.20. The business’s fifty day moving average price is $67.07 and its 200 day moving average price is $64.14. Rubrik has a 12 month low of $28.34 and a 12 month high of $87.50.

Rubrik (NYSE:RBRK) last posted its earnings results on Thursday, March 13th. The company reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.22). The company had revenue of $258.10 million during the quarter, compared to analysts’ expectations of $233.13 million. Rubrik’s revenue was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.59) earnings per share. As a group, equities analysts anticipate that Rubrik will post -7.66 EPS for the current year.

Insider Activity at Rubrik

In other Rubrik news, CRO Brian K. Mccarthy sold 25,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $80.01, for a total value of $2,000,250.00. Following the completion of the transaction, the executive now directly owns 529,584 shares of the company’s stock, valued at approximately $42,372,015.84. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kiran Kumar Choudary sold 2,000 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $62.03, for a total transaction of $124,060.00. Following the completion of the transaction, the chief financial officer now directly owns 614,798 shares of the company’s stock, valued at approximately $38,135,919.94. This trade represents a 0.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 594,617 shares of company stock worth $40,386,273 over the last 90 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Voleon Capital Management LP increased its holdings in Rubrik by 50.7% in the first quarter. Voleon Capital Management LP now owns 186,205 shares of the company’s stock valued at $11,355,000 after buying an additional 62,627 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Rubrik by 33.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 940,351 shares of the company’s stock worth $57,343,000 after purchasing an additional 236,181 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Rubrik by 370.4% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 17,644 shares of the company’s stock worth $1,076,000 after purchasing an additional 13,893 shares in the last quarter. PharVision Advisers LLC increased its stake in shares of Rubrik by 26.6% during the 1st quarter. PharVision Advisers LLC now owns 3,908 shares of the company’s stock worth $238,000 after purchasing an additional 820 shares in the last quarter. Finally, NewEdge Advisors LLC increased its stake in shares of Rubrik by 31.6% during the 1st quarter. NewEdge Advisors LLC now owns 1,250 shares of the company’s stock worth $76,000 after purchasing an additional 300 shares in the last quarter. 49.54% of the stock is owned by hedge funds and other 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.