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

Rubrik (NYSE:RBRK) had its price objective increased by Canadian Imperial Bank of Commerce from $115.00 to $120.00 in a research note published on Monday,Benzinga reports. Canadian Imperial Bank of Commerce currently has an outperformer rating on the stock.

Other equities research analysts have also issued reports about the stock. Jefferies Financial Group set a $90.00 price objective on shares of Rubrik in a report on Friday, June 5th. Citigroup upped their target price on shares of Rubrik from $96.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. KeyCorp increased their target price on Rubrik from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Barclays lifted their price target on Rubrik from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. Finally, Wells Fargo & Company boosted their price target on Rubrik from $90.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, August 25th. Twenty-nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $112.15.

Rubrik Stock Performance

NYSE RBRK opened at $87.03 on Monday. The stock has a market cap of $17.91 billion, a price-to-earnings ratio of -69.07 and a beta of 1.24. The business has a 50 day simple moving average of $85.94 and a 200 day simple moving average of $68.26. Rubrik has a 52-week low of $42.25 and a 52-week high of $107.91.

Rubrik (NYSE:RBRK) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.16. The company had revenue of $427.26 million during the quarter, compared to the consensus estimate of $396.30 million. The business’s quarterly revenue was up 43.9% compared to the same quarter last year. During the same period in the previous year, the firm 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. On average, analysts predict that Rubrik will post -1.21 EPS for the current year.

Insiders Place Their Bets

In other news, Director Yvonne Wassenaar sold 721 shares of the business’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $75.00, for a total value of $54,075.00. Following the sale, the director owned 3,917 shares of the company’s stock, valued at $293,775. The trade was a 15.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Wednesday, August 5th. The stock was sold at an average price of $83.71, for a total transaction of $1,073,162.20. Following the transaction, the chief technology officer owned 293,293 shares of the company’s stock, valued at $24,551,557.03. The trade was 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 have sold a total of 98,356 shares of company stock valued at $8,110,311 over the last 90 days. 13.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rubrik

Large investors have recently modified their holdings of the business. Essential Partners LLC increased its position in shares of Rubrik by 99.3% in the first quarter. Essential Partners LLC now owns 570 shares of the company’s stock valued at $28,000 after acquiring an additional 284 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in Rubrik by 100.0% during the fourth quarter. Atlantic Union Bankshares Corp now owns 400 shares of the company’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. Triumph Capital Management acquired a new position in Rubrik during the fourth quarter valued at approximately $33,000. Banque Cantonale Vaudoise acquired a new position in Rubrik during the third quarter valued at approximately $34,000. Finally, Los Angeles Capital Management LLC bought a new position in Rubrik in the fourth quarter valued at approximately $35,000. 49.54% of the stock is currently owned by institutional investors and hedge funds.

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).