Rubrik (NYSE:RBRK) Hits New 1-Year High Following Analyst Upgrade

Rubrik, Inc. (NYSE:RBRK)’s stock price hit a new 52-week high during trading on Wednesday after Robert W. Baird raised their price target on the stock from $130.00 to $139.00. Robert W. Baird currently has an outperform rating on the stock. Rubrik traded as high as $113.95 and last traded at $111.7630, with a volume of 3544568 shares traded. The stock had previously closed at $112.96.

RBRK has been the topic of a number of other research reports. Citigroup boosted their price objective on shares of Rubrik from $96.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Piper Sandler increased their target price on shares of Rubrik from $91.00 to $114.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. The Goldman Sachs Group reissued a “buy” rating on shares of Rubrik in a research note on Wednesday, August 19th. DA Davidson boosted their price target on Rubrik from $90.00 to $115.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, KeyCorp increased their price objective on Rubrik from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Twenty-eight analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.42.

Insider Activity at Rubrik

In other news, Director Yvonne Wassenaar sold 721 shares of Rubrik stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $89.52, for a total transaction of $64,543.92. Following the sale, the director owned 3,709 shares of the company’s stock, valued at approximately $332,029.68. The trade was a 16.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 owned 8,362 shares in the company, valued at $744,468.86. This represents a 56.81% 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. In the last 90 days, insiders sold 143,562 shares of company stock valued at $12,419,653. 13.66% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Rubrik during the fourth quarter valued at approximately $345,907,000. Pictet Asset Management Holding SA lifted its position in Rubrik by 104.1% during the first quarter. Pictet Asset Management Holding SA now owns 3,325,503 shares of the company’s stock valued at $162,572,000 after buying an additional 1,696,342 shares during the period. Geode Capital Management LLC lifted its position in Rubrik by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 2,528,649 shares of the company’s stock valued at $193,433,000 after buying an additional 178,714 shares during the period. Legal & General Group Plc boosted its holdings in shares of Rubrik by 8.6% during the 4th quarter. Legal & General Group Plc now owns 1,904,810 shares of the company’s stock valued at $145,680,000 after buying an additional 151,234 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Rubrik by 7.6% during the 4th quarter. Clearbridge Investments LLC now owns 1,363,888 shares of the company’s stock valued at $104,310,000 after buying an additional 96,360 shares in the last quarter. Institutional investors own 49.54% of the company’s stock.

Rubrik Trading Down 1.4%

The stock’s fifty day moving average price is $91.96 and its 200 day moving average price is $73.61. The stock has a market cap of $23.61 billion, a P/E ratio of -90.40 and a beta of 1.24.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.16. The business had revenue of $427.26 million for the quarter, compared to analysts’ expectations of $396.30 million. During the same period last year, the business earned ($0.03) earnings per share. The company’s revenue was up 43.9% on a year-over-year basis. 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, sell-side analysts forecast that Rubrik, Inc. will post -1.19 earnings per share for the current year.

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.