Rubrik (NYSE:RBRK) Earns “Outperform” Rating from Wedbush

Rubrik (NYSE:RBRK)‘s stock had its “outperform” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $120.00 price target on the stock. Wedbush’s price objective would indicate a potential upside of 34.53% from the company’s previous close.

A number of other research firms have also recently weighed in on RBRK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rubrik in a research report on Wednesday, June 24th. Oppenheimer set a $120.00 price objective on shares of Rubrik in a report on Thursday, August 20th. The Goldman Sachs Group reissued a “buy” rating on shares of Rubrik in a research report on Wednesday, August 19th. KeyCorp boosted their price target on shares of Rubrik from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $120.00 price target on shares of Rubrik in a report on Friday, August 28th. Twenty-eight analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $113.31.

Rubrik Price Performance

Shares of Rubrik stock opened at $89.20 on Friday. The business has a 50 day simple moving average of $87.62 and a two-hundred day simple moving average of $69.86. Rubrik has a 12 month low of $42.25 and a 12 month high of $107.91. The stock has a market capitalization of $18.36 billion, a P/E ratio of -70.80 and a beta of 1.24.

Rubrik (NYSE:RBRK) last announced its earnings results on Thursday, August 27th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.16. The business had revenue of $427.26 million for the quarter, compared to analyst estimates of $396.30 million. The company’s revenue for the quarter was up 43.9% compared to the same quarter last year. During the same period last year, the firm earned ($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. As a group, research analysts anticipate that Rubrik will post -1.21 EPS for the current fiscal year.

Insider Activity

In other news, Director John Thompson sold 11,000 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $89.03, for a total transaction of $979,330.00. Following the transaction, the director directly owned 8,362 shares in the company, valued at $744,468.86. The trade was a 56.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Choudary sold 10,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $98.32, for a total value of $983,200.00. Following the transaction, the chief financial officer directly owned 978,073 shares of the company’s stock, valued at approximately $96,164,137.36. This trade represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 138,217 shares of company stock worth $11,706,692 in the last ninety days. 13.66% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBRK. California State Teachers Retirement System boosted its holdings in Rubrik by 8,477.0% in 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 purchasing an additional 14,609,375 shares during the period. Norges Bank acquired a new position in shares of Rubrik during the fourth quarter valued at approximately $345,907,000. First Trust Advisors LP lifted its holdings in shares of Rubrik by 42.8% in the fourth quarter. First Trust Advisors LP now owns 7,064,057 shares of the company’s stock valued at $540,259,000 after buying an additional 2,116,272 shares during the period. Pictet Asset Management Holding SA boosted its position in shares of Rubrik by 104.1% during the 1st 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 in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Rubrik during the third quarter worth approximately $97,828,000. 49.54% of the stock is currently owned by hedge funds and other institutional investors.

About Rubrik

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.