Rubrik (NYSE:RBRK) Given New $50.00 Price Target at Truist Financial

by · The Markets Daily

Rubrik (NYSE:RBRK – Get Free Report) had its target price raised by analysts at Truist Financial from $43.00 to $50.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 13.66% from the stock’s current price.

Other analysts also recently issued research reports about the stock. BMO Capital Markets dropped their target price on shares of Rubrik from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, September 10th. Citigroup lifted their target price on shares of Rubrik from $47.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Piper Sandler started coverage on shares of Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 target price for the company. Robert W. Baird lifted their target price on shares of Rubrik from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, FBN Securities started coverage on shares of Rubrik in a report on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price for the company. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $45.41.

View Our Latest Research Report on Rubrik

Rubrik Stock Up 1.7 %

RBRK stock traded up $0.75 during mid-day trading on Monday, reaching $43.99. The company’s stock had a trading volume of 89,140 shares, compared to its average volume of 1,480,111. Rubrik has a fifty-two week low of $28.34 and a fifty-two week high of $45.90. The company’s 50 day moving average is $37.18 and its two-hundred day moving average is $34.50.

Rubrik (NYSE:RBRK – Get Free Report) last announced its quarterly earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, analysts forecast that Rubrik will post -8.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ravi Mhatre sold 15,933 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $30.19, for a total value of $481,017.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Barry Eggers sold 100,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $32.74, for a total transaction of $3,274,000.00. Following the completion of the sale, the insider now directly owns 56,736 shares of the company’s stock, valued at $1,857,536.64. The trade was a 63.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 444,512 shares of company stock worth $15,368,662 in the last ninety days.

Institutional Investors Weigh In On Rubrik

Institutional investors and hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. purchased a new stake in shares of Rubrik in the third quarter valued at about $25,000. KBC Group NV purchased a new position in Rubrik during the third quarter worth about $72,000. Quent Capital LLC purchased a new position in Rubrik during the third quarter worth about $192,000. Mount Yale Investment Advisors LLC purchased a new position in Rubrik during the third quarter worth about $208,000. Finally, Register Financial Advisors LLC purchased a new position in Rubrik during the second quarter worth about $227,000.

About Rubrik

(Get Free Report)

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.

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