Rubrik (NYSE:RBRK) Given New $114.00 Price Target at Scotiabank

Rubrik (NYSE:RBRK) had its target price upped by stock analysts at Scotiabank from $95.00 to $114.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 16.29% from the company’s previous close.

RBRK has been the subject of a number of other research reports. Stephens restated an “overweight” rating and issued a $90.00 price objective on shares of Rubrik in a research note on Monday, June 15th. Robert W. Baird upped their target price on shares of Rubrik from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Rubrik in a research report on Friday, June 5th. Guggenheim restated a “buy” rating on shares of Rubrik in a research note on Monday. Finally, Piper Sandler restated an “overweight” rating and set a $91.00 price target (up from $84.00) on shares of Rubrik in a research note on Friday, June 5th. Twenty-nine equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.96.

Rubrik Trading Down 2.1%

Shares of NYSE:RBRK opened at $98.03 on Tuesday. Rubrik has a 1-year low of $42.25 and a 1-year high of $106.50. The firm has a market capitalization of $20.18 billion, a PE ratio of -67.61 and a beta of 1.17. The business’s 50 day moving average is $82.73 and its 200-day moving average is $66.22.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.19. The firm had revenue of $387.07 million during the quarter, compared to analyst estimates of $366.31 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. The business’s revenue for the quarter was up 39.0% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. On average, sell-side analysts predict that Rubrik will post -1.13 EPS for the current year.

Insider Buying and Selling at Rubrik

In other news, CTO Arvind Nithrakashyap sold 199,447 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $84.28, for a total value of $16,809,393.16. Following the sale, the chief technology officer owned 314,048 shares of the company’s stock, valued at approximately $26,467,965.44. This represents a 38.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ravi Mhatre sold 3,979 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $71.49, for a total transaction of $284,458.71. Following the sale, the director owned 113,477 shares of the company’s stock, valued at $8,112,470.73. This trade represents a 3.39% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 317,682 shares of company stock valued at $26,402,176. 13.66% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rubrik

A number of large investors have recently bought and sold shares of RBRK. Pictet Asset Management Holding SA grew its position in shares of Rubrik by 104.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company’s stock worth $162,572,000 after buying an additional 1,696,342 shares during the period. Norges Bank bought a new position in Rubrik in the fourth quarter valued at approximately $345,907,000. Legal & General Group Plc boosted its stake in Rubrik by 8.6% in the fourth quarter. Legal & General Group Plc now owns 1,904,810 shares of the company’s stock valued at $145,680,000 after acquiring an additional 151,234 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Rubrik by 11.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 280,448 shares of the company’s stock worth $22,514,000 after acquiring an additional 28,056 shares during the period. Finally, Stephens Investment Management Group LLC grew its holdings in Rubrik by 47.4% during the 4th quarter. Stephens Investment Management Group LLC now owns 595,851 shares of the company’s stock worth $45,571,000 after acquiring an additional 191,738 shares during the period. 49.54% of the stock is currently owned by institutional investors.

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).