Cantor Fitzgerald Has Lowered Expectations for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its price objective lowered by research analysts at Cantor Fitzgerald from $105.00 to $85.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 52.58% from the company’s current price.

A number of other equities research analysts also recently issued reports on the company. KeyCorp lowered their price target on Rubrik from $95.00 to $80.00 and set an “overweight” rating for the company in a research report on Tuesday, February 17th. Stephens assumed coverage on shares of Rubrik in a report on Monday, December 29th. They issued an “overweight” rating and a $105.00 price target on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rubrik in a research note on Friday, December 5th. Robert W. Baird lowered their price objective on Rubrik from $125.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Mizuho dropped their target price on shares of Rubrik from $97.00 to $80.00 and set an “outperform” rating for the company in a research report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $98.68.

Rubrik Stock Down 2.6%

Rubrik stock traded down $1.46 during trading on Monday, reaching $55.71. The stock had a trading volume of 1,666,743 shares, compared to its average volume of 3,739,918. Rubrik has a 52-week low of $46.36 and a 52-week high of $103.00. The stock has a market cap of $11.15 billion, a PE ratio of -28.57 and a beta of 0.46. The business has a 50 day moving average price of $61.25 and a 200 day moving average price of $72.75.

Rubrik (NYSE:RBRK) last released its quarterly earnings data on Thursday, December 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.26. The firm had revenue of $350.17 million for the quarter, compared to analysts’ expectations of $320.19 million. During the same period last year, the firm posted ($0.21) earnings per share. Rubrik’s revenue for the quarter was up 48.3% on a year-over-year basis. On average, equities analysts predict that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity

In related news, Director John Wendell Thompson sold 11,000 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $53.62, for a total transaction of $589,820.00. Following the sale, the director owned 4,653 shares of the company’s stock, valued at $249,493.86. This trade represents a 70.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $54.17, for a total transaction of $1,083,400.00. Following the completion of the sale, the chief financial officer directly owned 474,959 shares of the company’s stock, valued at $25,728,529.03. The trade was a 4.04% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 261,378 shares of company stock valued at $19,381,131. Company insiders own 32.38% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio grew its stake in shares of Rubrik by 90.8% in the third quarter. Strs Ohio now owns 62,300 shares of the company’s stock valued at $5,124,000 after buying an additional 29,649 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Rubrik in the 3rd quarter valued at $4,717,000. ARK Investment Management LLC raised its holdings in shares of Rubrik by 21.1% during the third quarter. ARK Investment Management LLC now owns 319,112 shares of the company’s stock valued at $26,247,000 after purchasing an additional 55,500 shares during the period. Citigroup Inc. boosted its holdings in Rubrik by 210.2% in the third quarter. Citigroup Inc. now owns 104,041 shares of the company’s stock worth $8,557,000 after acquiring an additional 70,504 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its stake in shares of Rubrik by 471.4% in the third quarter. TD Waterhouse Canada Inc. now owns 50,614 shares of the company’s stock worth $4,181,000 after purchasing an additional 41,756 shares during the last quarter. 49.54% of the stock is currently owned by institutional investors.

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).