Rubrik (NYSE:RBRK) Price Target Cut to $95.00 by Analysts at Rosenblatt Securities

Rubrik (NYSE:RBRK) had its target price decreased by equities research analysts at Rosenblatt Securities from $120.00 to $95.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective would suggest a potential upside of 65.62% from the stock’s current price.

Several other research analysts have also weighed in on RBRK. The Goldman Sachs Group lowered their target price on shares of Rubrik from $120.00 to $80.00 and set a “buy” rating for the company in a research note on Monday, February 9th. Berenberg Bank began coverage on shares of Rubrik in a report on Tuesday, November 18th. They issued a “buy” rating and a $114.00 price objective on the stock. Mizuho lowered their price objective on shares of Rubrik from $97.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. Wedbush reiterated an “outperform” rating and issued a $120.00 target price on shares of Rubrik in a report on Friday, December 5th. Finally, Piper Sandler cut their target price on Rubrik from $118.00 to $99.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.74.

Rubrik Trading Up 2.6%

NYSE RBRK opened at $57.36 on Monday. The stock has a market cap of $11.48 billion, a PE ratio of -29.42 and a beta of 0.46. Rubrik has a twelve month low of $46.36 and a twelve month high of $103.00. The stock has a fifty day simple moving average of $61.25 and a 200-day simple moving average of $72.75.

Rubrik (NYSE:RBRK) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.26. The company had revenue of $350.17 million during the quarter, compared to analysts’ expectations of $320.19 million. During the same quarter last year, the firm posted ($0.21) earnings per share. The firm’s quarterly revenue was up 48.3% on a year-over-year basis. Research analysts predict that Rubrik will post -7.66 EPS for the current year.

Insider Buying and Selling at Rubrik

In other Rubrik news, insider Brian K. Mccarthy sold 10,000 shares of the business’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $70.88, for a total value of $708,800.00. Following the completion of the transaction, the insider owned 330,772 shares in the company, valued at $23,445,119.36. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John Wendell Thompson sold 11,000 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $53.62, for a total value of $589,820.00. Following the completion of the sale, the director owned 4,653 shares in the company, valued at approximately $249,493.86. The trade was a 70.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 261,378 shares of company stock valued at $19,381,131 in the last quarter. Corporate insiders own 32.38% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RBRK. Vanguard Group Inc. increased its holdings in shares of Rubrik by 73.1% in the 2nd quarter. Vanguard Group Inc. now owns 12,022,614 shares of the company’s stock valued at $1,077,106,000 after acquiring an additional 5,077,513 shares during the last quarter. Norges Bank purchased a new stake in Rubrik during the fourth quarter worth approximately $345,907,000. First Trust Advisors LP boosted its holdings in Rubrik by 42.8% in the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company’s stock valued at $540,259,000 after purchasing an additional 2,116,272 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Rubrik by 101.8% in the third quarter. Federated Hermes Inc. now owns 2,437,768 shares of the company’s stock valued at $200,506,000 after purchasing an additional 1,229,476 shares in the last quarter. Finally, AQR Capital Management LLC purchased a new position in Rubrik in the third quarter valued at approximately $97,828,000. 49.54% of the stock is owned by institutional investors and hedge funds.

About Rubrik

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).