Rubrik (NYSE:RBRK) Price Target Raised to $114.00

Rubrik (NYSE:RBRK) had its price target boosted by equities researchers at Scotiabank from $95.00 to $114.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “sector outperform” rating on the stock. Scotiabank’s target price points to a potential upside of 16.29% from the stock’s current price.

Several other equities research analysts also recently commented on RBRK. 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. BMO Capital Markets boosted their price target on shares of Rubrik from $87.00 to $98.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Rubrik in a research report on Friday, June 5th. Wolfe Research restated an “outperform” rating and issued a $95.00 price objective on shares of Rubrik in a research report on Friday, June 5th. Finally, Cantor Fitzgerald raised their price objective on Rubrik from $95.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, August 20th. Twenty-nine investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, Rubrik has a consensus rating of “Moderate Buy” and a consensus target price of $103.96.

Rubrik Trading Down 2.1%

Rubrik stock opened at $98.03 on Tuesday. The firm has a market capitalization of $20.18 billion, a P/E ratio of -67.61 and a beta of 1.17. The business has a 50-day moving average of $82.73 and a 200-day moving average of $66.22. Rubrik has a 1 year low of $42.25 and a 1 year high of $106.50.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, June 4th. The company reported $0.16 earnings per share 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 prior year, the business earned ($0.15) earnings per share. The business’s revenue was up 39.0% on a year-over-year basis. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. Research analysts anticipate that Rubrik will post -1.13 EPS for the current fiscal year.

Insider Activity at Rubrik

In other Rubrik news, Director Ravi Mhatre sold 3,979 shares of Rubrik stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $83.10, for a total value of $330,654.90. Following the transaction, the director owned 125,351 shares of the company’s stock, valued at approximately $10,416,668.10. The trade was a 3.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Wendell Thompson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $74.11, for a total transaction of $185,275.00. Following the completion of the transaction, the director owned 10,000 shares of the company’s stock, valued at $741,100. This trade represents a 20.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 317,682 shares of company stock valued at $26,402,176. Corporate insiders own 13.66% of the company’s stock.

Institutional Trading of Rubrik

Several hedge funds and other institutional investors have recently modified their holdings of the company. California State Teachers Retirement System grew its holdings in shares of Rubrik by 8,477.0% during the second quarter. California State Teachers Retirement System now owns 14,781,716 shares of the company’s stock worth $1,186,676,000 after buying an additional 14,609,375 shares in the last quarter. Norges Bank acquired a new position in Rubrik during the 4th quarter worth approximately $345,907,000. First Trust Advisors LP grew its stake in shares of Rubrik by 42.8% during the 4th quarter. First Trust Advisors LP now owns 7,064,057 shares of the company’s stock worth $540,259,000 after acquiring an additional 2,116,272 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Rubrik by 104.1% in the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company’s stock valued at $162,572,000 after purchasing an additional 1,696,342 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Rubrik by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 14,694,503 shares of the company’s stock worth $1,123,836,000 after purchasing an additional 1,678,255 shares during the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

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).