Rubrik (NYSE:RBRK) Given New $110.00 Price Target at Robert W. Baird

Rubrik (NYSE:RBRK) had its price objective lowered by Robert W. Baird from $125.00 to $110.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 96.74% from the company’s previous close.

A number of other equities analysts have also weighed in on RBRK. Oppenheimer initiated coverage on shares of Rubrik in a research report on Monday, November 17th. They set a “market perform” rating on the stock. Barclays decreased their target price on shares of Rubrik from $100.00 to $70.00 and set an “overweight” rating on the stock in a research note on Tuesday. Stephens began coverage on Rubrik in a research report on Monday, December 29th. They issued an “overweight” rating and a $105.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Rubrik in a report on Monday, December 29th. Finally, The Goldman Sachs Group reduced their price objective on Rubrik from $120.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, February 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Rubrik currently has a consensus rating of “Moderate Buy” and a consensus price target of $101.05.

Rubrik Price Performance

Shares of Rubrik stock opened at $55.91 on Friday. The business has a 50 day simple moving average of $61.68 and a two-hundred day simple moving average of $73.11. Rubrik has a 12 month low of $46.36 and a 12 month high of $103.00. The stock has a market capitalization of $11.19 billion, a P/E ratio of -28.67 and a beta of 0.45.

Rubrik (NYSE:RBRK) last announced its earnings results 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 business had revenue of $350.17 million for the quarter, compared to analyst estimates of $320.19 million. The company’s revenue for the quarter was up 48.3% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) EPS. As a group, research analysts anticipate that Rubrik will post -7.66 EPS for the current fiscal year.

Insider Activity

In other Rubrik news, CTO Arvind Nithrakashyap sold 4,648 shares of Rubrik stock in a transaction on Thursday, January 15th. The stock was sold at an average price of $70.40, for a total value of $327,219.20. Following the sale, the chief technology officer owned 337,010 shares in the company, valued at $23,725,504. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kiran Kumar Choudary sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $54.17, for a total value of $1,083,400.00. Following the completion of the transaction, the chief financial officer directly owned 474,959 shares in the company, valued at approximately $25,728,529.03. This trade represents a 4.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 261,378 shares of company stock worth $19,381,131 in the last 90 days. 32.38% of the stock is owned by corporate insiders.

Institutional Trading of Rubrik

A number of hedge funds and other institutional investors have recently modified their holdings of RBRK. Allworth Financial LP increased its position in shares of Rubrik by 1,030.8% during the second quarter. Allworth Financial LP now owns 294 shares of the company’s stock worth $26,000 after acquiring an additional 268 shares during the period. Bogart Wealth LLC increased its holdings in Rubrik by 352.2% during the 3rd quarter. Bogart Wealth LLC now owns 312 shares of the company’s stock worth $26,000 after purchasing an additional 243 shares during the period. EverSource Wealth Advisors LLC raised its position in Rubrik by 1,360.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock valued at $30,000 after purchasing an additional 340 shares in the last quarter. Financial Life Planners purchased a new position in shares of Rubrik in the 3rd quarter valued at about $31,000. Finally, Atlantic Union Bankshares Corp grew its position in shares of 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 buying an additional 200 shares in the last quarter. 49.54% of the stock is owned by institutional investors and hedge funds.

About Rubrik

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).