Rubrik (NYSE:RBRK) Earns Outperform Rating from Wedbush

Rubrik (NYSE:RBRK)‘s stock had its “outperform” rating reiterated by Wedbush in a research note issued to investors on Thursday,Benzinga reports. They currently have a $90.00 price objective on the stock. Wedbush’s price target would indicate a potential upside of 31.59% from the company’s current price.

Several other research firms have also issued reports on RBRK. Mizuho upped their target price on Rubrik from $80.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, June 5th. Guggenheim restated a “buy” rating on shares of Rubrik in a research note on Friday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $90.00 price target on shares of Rubrik in a research report on Monday, June 1st. Piper Sandler reiterated an “overweight” rating and set a $91.00 price objective (up from $84.00) on shares of Rubrik in a research note on Friday, June 5th. Finally, BTIG Research reissued a “buy” rating and issued a $91.00 price objective on shares of Rubrik in a report on Thursday. Twenty-eight research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

Rubrik Stock Performance

Rubrik stock traded down $2.93 during mid-day trading on Thursday, reaching $68.39. The company’s stock had a trading volume of 632,051 shares, compared to its average volume of 3,936,911. Rubrik has a 12 month low of $42.25 and a 12 month high of $99.75. The business’s 50 day simple moving average is $60.31 and its 200 day simple moving average is $62.62. The company has a market capitalization of $13.83 billion, a price-to-earnings ratio of -47.30 and a beta of 1.10.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, June 4th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.19. The business had revenue of $387.07 million for the quarter, compared to the consensus estimate of $366.31 million. During the same period last year, the firm earned ($0.15) earnings per share. The company’s quarterly revenue was up 39.0% compared to the same quarter last year. Rubrik has set its FY 2027 guidance at 0.250-0.350 EPS and its Q2 2027 guidance at 0.030-0.050 EPS. As a group, sell-side analysts expect that Rubrik will post -1.42 EPS for the current year.

Insider Buying and Selling at Rubrik

In related news, CFO Kiran Kumar Choudary sold 122,613 shares of the business’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $48.20, for a total transaction of $5,909,946.60. Following the transaction, the chief financial officer directly owned 564,901 shares of the company’s stock, valued at approximately $27,228,228.20. The trade was a 17.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Arvind Nithrakashyap sold 199,447 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $84.28, for a total value of $16,809,393.16. Following the completion of the sale, the chief technology officer owned 314,048 shares in the company, valued at approximately $26,467,965.44. This trade represents a 38.84% decrease in their position. 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 have sold a total of 398,939 shares of company stock valued at $27,628,167 in the last three months. Corporate insiders own 13.66% of the company’s stock.

Hedge Funds Weigh In On Rubrik

Several institutional investors and hedge funds have recently modified their holdings of the stock. Essential Partners LLC lifted its stake in shares of Rubrik by 99.3% during the 1st quarter. Essential Partners LLC now owns 570 shares of the company’s stock worth $28,000 after buying an additional 284 shares during the last quarter. Arkadios Wealth Advisors acquired a new position in Rubrik in the 1st quarter valued at about $506,000. Smith Group Asset Management LLC acquired a new position in Rubrik in the 1st quarter valued at about $617,000. ADAR1 Capital Management LLC bought a new position in Rubrik in the 1st quarter valued at about $240,000. Finally, Sunbelt Securities Inc. acquired a new stake in Rubrik during the first quarter worth approximately $46,000. 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).