Rubrik (NYSE:RBRK) Announces Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Rubrik (NYSE:RBRK) released its quarterly earnings data on Thursday. The company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.22), Zacks reports. The company had revenue of $258.10 million for the quarter, compared to analyst estimates of $233.13 million. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same period last year, the company earned ($1.59) EPS.

Rubrik Price Performance

Rubrik stock traded down $1.92 during trading on Thursday, reaching $55.19. The company had a trading volume of 2,609,355 shares, compared to its average volume of 2,044,186. The firm’s 50-day simple moving average is $68.42 and its 200 day simple moving average is $53.26. Rubrik has a 52 week low of $28.34 and a 52 week high of $80.00.

Insiders Place Their Bets

In related news, CTO Arvind Nithrakashyap sold 32,484 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $61.59, for a total transaction of $2,000,689.56. Following the sale, the chief technology officer now owns 219,279 shares of the company’s stock, valued at $13,505,393.61. This represents a 12.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Yvonne Wassenaar sold 2,500 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $77.31, for a total transaction of $193,275.00. Following the completion of the sale, the director now owns 153 shares in the company, valued at approximately $11,828.43. This trade represents a 94.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 625,712 shares of company stock worth $41,583,311.

Analyst Ratings Changes

Several brokerages recently commented on RBRK. Wells Fargo & Company boosted their price objective on shares of Rubrik from $40.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Oppenheimer began coverage on shares of Rubrik in a report on Wednesday, November 13th. They issued a “market perform” rating on the stock. William Blair initiated coverage on Rubrik in a research note on Friday, February 7th. They set a “market perform” rating for the company. Citigroup upped their target price on Rubrik from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, BMO Capital Markets lifted their price target on Rubrik from $38.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rubrik currently has a consensus rating of “Buy” and a consensus target price of $66.72.

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.