Rubrik’s (RBRK) Overweight Rating Reaffirmed at Cantor Fitzgerald

Rubrik (NYSE:RBRK)‘s stock had its “overweight” rating reaffirmed by stock analysts at Cantor Fitzgerald in a report issued on Tuesday, Benzinga reports. They currently have a $50.00 price objective on the stock. Cantor Fitzgerald’s price target suggests a potential upside of 67.06% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Rubrik in a research report on Monday, May 20th. They set a “buy” rating and a $42.00 price target on the stock. Guggenheim reaffirmed a “buy” rating and set a $48.00 target price on shares of Rubrik in a report on Tuesday, June 25th. Barclays boosted their price target on shares of Rubrik from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 12th. BMO Capital Markets reduced their price objective on Rubrik from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Piper Sandler assumed coverage on Rubrik in a report on Monday, August 19th. They issued an “overweight” rating and a $42.00 price objective on the stock. Fifteen investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $44.50.

Rubrik Stock Performance

NYSE:RBRK traded down $2.13 during midday trading on Tuesday, hitting $29.93. The company had a trading volume of 1,347,243 shares, compared to its average volume of 1,093,927. The stock has a fifty day simple moving average of $33.46. Rubrik has a 52-week low of $28.34 and a 52-week high of $40.00.

Rubrik (NYSE:RBRK) last posted its quarterly earnings data on Tuesday, June 11th. The company reported ($11.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($10.88) by ($0.59). The firm had revenue of $187.32 million during the quarter, compared to analysts’ expectations of $171.60 million. On average, sell-side analysts forecast that Rubrik will post -7.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Dragoneer Investment Group LLC bought a new stake in shares of Rubrik during the 2nd quarter valued at about $47,523,000. Clearbridge Investments LLC purchased a new position in shares of Rubrik during the 2nd quarter worth approximately $32,888,000. EPIQ Capital Group LLC bought a new position in shares of Rubrik in the 2nd quarter worth approximately $15,111,000. Zweig DiMenna Associates LLC purchased a new position in shares of Rubrik in the 2nd quarter valued at approximately $6,730,000. Finally, Ensign Peak Advisors Inc bought a new stake in shares of Rubrik during the second quarter valued at approximately $6,287,000.

About Rubrik

Rubrik, Inc provides data security solutions to individuals and businesses worldwide. The company offers enterprise data protection, unstructured data protection, cloud data protection, and SaaS data protection solutions; data threat analytics; data security posture; and cyber recovery solutions. It serves financial, retail, trade, transportation, energy, industrial, healthcare and life science, education, technology, media, communications, and public sectors.