Robert W. Baird Has Lowered Expectations for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its target price reduced by Robert W. Baird from $125.00 to $110.00 in a report issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would indicate a potential upside of 96.74% from the company’s previous close.

A number of other research analysts have also weighed in on the company. Stephens began coverage on Rubrik in a report on Monday, December 29th. They issued an “overweight” rating and a $105.00 price objective on the stock. Cantor Fitzgerald cut their price target on shares of Rubrik from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rubrik in a research report on Friday, December 5th. BMO Capital Markets decreased their price objective on shares of Rubrik from $110.00 to $105.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Finally, Truist Financial cut their price objective on shares of Rubrik from $110.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Rubrik presently has a consensus rating of “Moderate Buy” and an average target price of $101.05.

Rubrik Trading Up 1.9%

NYSE:RBRK opened at $55.91 on Friday. The company has a market capitalization of $11.19 billion, a P/E ratio of -28.67 and a beta of 0.45. Rubrik has a 12 month low of $46.36 and a 12 month high of $103.00. The firm has a fifty day simple moving average of $61.68 and a 200-day simple moving average of $73.11.

Rubrik (NYSE:RBRK) last issued its earnings results on Thursday, December 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.26. The firm had revenue of $350.17 million during the quarter, compared to analysts’ expectations of $320.19 million. The business’s revenue was up 48.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) EPS. Equities analysts forecast that Rubrik will post -7.66 EPS for the current year.

Insider Activity

In other Rubrik news, Director John Wendell Thompson sold 11,000 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $73.84, for a total value of $812,240.00. Following the completion of the transaction, the director owned 2,702 shares in the company, valued at approximately $199,515.68. This represents a 80.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Arvind Nithrakashyap sold 31,450 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $76.19, for a total transaction of $2,396,175.50. Following the sale, the chief technology officer directly owned 342,703 shares in the company, valued at approximately $26,110,541.57. The trade was a 8.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 261,378 shares of company stock worth $19,381,131. 32.38% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rubrik

A number of hedge funds have recently bought and sold shares of RBRK. Vanguard Group Inc. raised its stake in shares of Rubrik by 73.1% during the 2nd quarter. Vanguard Group Inc. now owns 12,022,614 shares of the company’s stock worth $1,077,106,000 after buying an additional 5,077,513 shares during the period. Norges Bank purchased a new stake in Rubrik in the 4th quarter worth $345,907,000. First Trust Advisors LP increased its holdings in Rubrik by 42.8% in 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. Acadian Asset Management LLC raised its position in Rubrik by 388.7% during the second quarter. Acadian Asset Management LLC now owns 1,555,252 shares of the company’s stock worth $139,309,000 after acquiring an additional 1,237,014 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in Rubrik by 101.8% during the third quarter. Federated Hermes Inc. now owns 2,437,768 shares of the company’s stock valued at $200,506,000 after purchasing an additional 1,229,476 shares in the last quarter. Hedge funds and other institutional investors own 49.54% of the company’s stock.

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).