Rubrik (NYSE:RBRK) Given New $120.00 Price Target at Wedbush

Rubrik (NYSE:RBRK) had its price target raised by Wedbush from $80.00 to $120.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also commented on RBRK. Roth Capital increased their price objective on Rubrik from $97.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, June 6th. Cantor Fitzgerald upped their price target on Rubrik from $95.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, June 6th. KeyCorp reaffirmed an “overweight” rating and set a $113.00 price target (up previously from $98.00) on shares of Rubrik in a research note on Friday, June 6th. Wells Fargo & Company boosted their price objective on Rubrik from $80.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, June 6th. Finally, Mizuho cut Rubrik from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $75.00 to $86.00 in a report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $100.38.

Rubrik Stock Down 0.1%

Shares of NYSE RBRK opened at $88.76 on Thursday. The firm’s 50-day simple moving average is $78.00 and its 200 day simple moving average is $70.37. The company has a market cap of $16.84 billion, a price-to-earnings ratio of -31.36 and a beta of 0.87. Rubrik has a 12-month low of $28.34 and a 12-month high of $103.00.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, June 5th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.17. The company had revenue of $278.48 million during the quarter, compared to the consensus estimate of $260.39 million. The company’s revenue was up 48.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.58) earnings per share. On average, equities analysts expect that Rubrik will post -7.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Kiran Kumar Choudary sold 87,971 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $70.04, for a total value of $6,161,488.84. Following the completion of the sale, the chief financial officer now owns 413,458 shares in the company, valued at $28,958,598.32. This represents a 17.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Brian K. Mccarthy sold 25,000 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $100.18, for a total value of $2,504,500.00. Following the completion of the transaction, the executive now directly owns 454,584 shares of the company’s stock, valued at approximately $45,540,225.12. The trade was a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 662,609 shares of company stock worth $51,212,668. Company insiders own 32.38% of the company’s stock.

Institutional Inflows and Outflows

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

Rubrik Company Profile

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.