Rubrik (NYSE:RBRK) Reaches New 1-Year High After Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK) hit a new 52-week high during mid-day trading on Wednesday after Robert W. Baird raised their price target on the stock from $130.00 to $139.00. Robert W. Baird currently has an outperform rating on the stock. Rubrik traded as high as $113.95 and last traded at $111.7630, with a volume of 3544568 shares changing hands. The stock had previously closed at $112.96.

RBRK has been the topic of a number of other research reports. Rosenblatt Securities upped their target price on Rubrik from $95.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, August 26th. Oppenheimer set a $120.00 price target on Rubrik in a research report on Thursday, August 20th. KeyCorp upped their price objective on Rubrik from $112.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Loop Capital began coverage on Rubrik in a research note on Monday, August 3rd. They set a “buy” rating and a $100.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on Rubrik from $90.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 25th. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Rubrik has an average rating of “Moderate Buy” and an average target price of $114.42.

Insider Activity

In other Rubrik news, Director John Thompson sold 11,000 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $89.03, for a total value of $979,330.00. Following the completion of the transaction, the director directly owned 8,362 shares in the company, valued at approximately $744,468.86. The trade was a 56.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Arvind Nithrakashyap sold 12,820 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $90.41, for a total value of $1,159,056.20. Following the transaction, the chief technology officer directly owned 293,293 shares in the company, valued at approximately $26,516,620.13. This represents a 4.19% 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. Insiders sold a total of 143,562 shares of company stock valued at $12,419,653 over the last quarter. Insiders own 13.66% of the company’s stock.

Institutional Trading of Rubrik

Hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in Rubrik in the 2nd quarter valued at about $317,000. Van Hulzen Asset Management LLC acquired a new position in shares of Rubrik during the 2nd quarter valued at about $1,132,000. Pinnacle Wealth Management Advisory Group LLC purchased a new position in shares of Rubrik during the 2nd quarter worth about $223,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Rubrik by 181.9% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 21,471 shares of the company’s stock worth $1,724,000 after acquiring an additional 13,854 shares during the period. Finally, NewEdge Advisors LLC boosted its position in shares of Rubrik by 3,699.4% in the second quarter. NewEdge Advisors LLC now owns 6,649 shares of the company’s stock worth $534,000 after acquiring an additional 6,474 shares during the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

Rubrik Price Performance

The company’s 50-day moving average is $91.96 and its 200-day moving average is $73.61. The firm has a market capitalization of $23.61 billion, a price-to-earnings ratio of -90.40 and a beta of 1.24.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.04 by $0.16. The company had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. The business’s revenue for the quarter was up 43.9% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Rubrik has set its FY 2027 guidance at 0.470-0.530 EPS and its Q3 2027 guidance at 0.070-0.090 EPS. Sell-side analysts anticipate that Rubrik, Inc. will post -1.19 earnings per share for the current year.

Rubrik Company Profile

Rubrik, Inc is a cloud data management and cyber resilience company that helps organizations protect, manage and recover data across on-premises systems, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and operational resilience.

The company’s principal offering, Rubrik Security Cloud, provides centralized capabilities for data protection and cyber recovery. The platform helps organizations identify sensitive data, monitor for threats, maintain secure backups and restore systems following events such as ransomware attacks, operational failures or other disruptions.

Rubrik was founded in 2014 by Bipul Sinha, Arvind Nithrakashyap and Soham Mazumdar.