Rubrik (NYSE:RBRK) Price Target Raised to $120.00

Rubrik (NYSE:RBRK) had its price objective upped by Cantor Fitzgerald from $95.00 to $120.00 in a report issued on Thursday morning, Marketbeat reports. They currently have an overweight rating on the stock.

A number of other research analysts have also issued reports on the stock. Stephens restated an “overweight” rating and issued a $90.00 target price on shares of Rubrik in a report on Monday, June 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Rubrik in a report on Wednesday, June 24th. Mizuho increased their target price on Rubrik from $90.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday. BMO Capital Markets increased their price objective on shares of Rubrik from $87.00 to $98.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Finally, KeyCorp increased their price target on shares of Rubrik from $88.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Twenty-nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.00.

Rubrik Trading Up 2.4%

NYSE:RBRK opened at $99.82 on Thursday. The company has a market capitalization of $20.55 billion, a P/E ratio of -68.84 and a beta of 1.17. The firm has a 50-day moving average price of $82.17 and a two-hundred day moving average price of $65.82. Rubrik has a twelve month low of $42.25 and a twelve month high of $106.50.

Rubrik (NYSE:RBRK) last released its quarterly earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.19. The business had revenue of $387.07 million during the quarter, compared to analyst estimates of $366.31 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. The firm’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, equities research analysts predict that Rubrik will post -1.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Arvind Nithrakashyap sold 199,447 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $84.28, for a total value of $16,809,393.16. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John Wendell Thompson sold 11,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $82.65, for a total transaction of $909,150.00. Following the completion of the sale, the director directly owned 8,362 shares in the company, valued at $691,119.30. This represents a 56.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 317,682 shares of company stock worth $26,402,176 in the last quarter. 13.66% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Markowski Investments bought a new position in Rubrik during the 2nd quarter worth $48,000. Odyssean LLC boosted its position in shares of Rubrik by 85.5% during the second quarter. Odyssean LLC now owns 15,782 shares of the company’s stock worth $1,267,000 after buying an additional 7,272 shares during the period. FirstWave Capital Management LLC acquired a new stake in Rubrik in the 2nd quarter valued at approximately $2,714,000. Concurrent Investment Advisors LLC grew its stake in shares of Rubrik by 48.0% in the second quarter. Concurrent Investment Advisors LLC now owns 11,761 shares of the company’s stock worth $944,000 after purchasing an additional 3,814 shares in the last quarter. Finally, Nykredit A S bought a new stake in shares of Rubrik during the second quarter valued at about $448,000. 49.54% of the stock is currently 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).