Rubrik (NYSE:RBRK) Sets New 12-Month High – What’s Next?

Rubrik, Inc. (NYSE:RBRK)’s stock price reached a new 52-week high on Tuesday. The stock traded as high as $124.27 and last traded at $122.8020, with a volume of 4103498 shares changing hands. The stock had previously closed at $118.58.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RBRK shares. BTIG Research upped their price objective on shares of Rubrik from $109.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Wells Fargo & Company lifted their target price on shares of Rubrik from $90.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, August 25th. BMO Capital Markets lifted their target price on shares of Rubrik from $98.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Rubrik in a report on Monday, August 31st. Finally, Loop Capital initiated coverage on shares of Rubrik in a research note on Monday, August 3rd. They issued a “buy” rating and a $100.00 price target on the stock. Twenty-eight equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Rubrik currently has a consensus rating of “Moderate Buy” and an average target price of $114.42.

Rubrik Price Performance

The company has a market capitalization of $25.66 billion, a price-to-earnings ratio of -98.22 and a beta of 1.12. The business has a fifty day moving average price of $99.72 and a 200 day moving average price of $77.65.

Rubrik (NYSE:RBRK) last announced its quarterly earnings data 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 company had revenue of $427.26 million during the quarter, compared to analyst estimates of $396.30 million. The company’s revenue was up 43.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($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, sell-side analysts predict that Rubrik, Inc. will post -1.19 earnings per share for the current fiscal year.

Insider Transactions at Rubrik

In related news, CTO Arvind Nithrakashyap sold 12,820 shares of the company’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $91.33, for a total value of $1,170,850.60. Following the completion of the transaction, the chief technology officer directly owned 293,293 shares in the company, valued at approximately $26,786,449.69. This represents a 4.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kiran Choudary sold 10,000 shares of Rubrik stock in a transaction on Monday, August 24th. The stock was sold at an average price of $98.32, for a total transaction of $983,200.00. Following the sale, the chief financial officer owned 978,073 shares in the company, valued at $96,164,137.36. This represents a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 143,562 shares of company stock worth $13,846,469. 13.66% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Rubrik

Hedge funds have recently made changes to their positions in the business. Essential Partners LLC increased its stake in Rubrik by 99.3% in the first quarter. Essential Partners LLC now owns 570 shares of the company’s stock valued at $28,000 after acquiring an additional 284 shares during the period. Sunbelt Securities Inc. bought a new position in Rubrik during the first quarter worth about $46,000. Markowski Investments bought a new position in Rubrik during the second quarter worth about $48,000. EverSource Wealth Advisors LLC boosted its holdings in Rubrik by 256.5% during the first quarter. EverSource Wealth Advisors LLC now owns 1,476 shares of the company’s stock valued at $72,000 after purchasing an additional 1,062 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Rubrik by 54.6% during the second quarter. Versant Capital Management Inc now owns 926 shares of the company’s stock valued at $74,000 after purchasing an additional 327 shares in the last quarter. Institutional investors and hedge funds own 49.54% of the company’s stock.

Rubrik Company Profile

Rubrik, Inc is a cybersecurity and data management company that helps organizations protect, manage and recover data across on-premises infrastructure, cloud environments and software-as-a-service applications. Its platform is designed to support data backup, recovery, security monitoring and cyber resilience.

The company’s primary offering is Rubrik Security Cloud, a cloud-delivered platform that provides data protection and security capabilities, including policy-based backup, immutable data protection, ransomware recovery, threat monitoring and centralized management.