BMO Capital Markets Issues Positive Forecast for Rubrik (NYSE:RBRK) Stock Price

Rubrik (NYSE:RBRK) had its target price increased by BMO Capital Markets from $38.00 to $72.00 in a report published on Friday, Marketbeat reports. BMO Capital Markets currently has an outperform rating on the stock.

RBRK has been the subject of several other research reports. Wedbush increased their target price on shares of Rubrik from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Robert W. Baird increased their price objective on Rubrik from $48.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday. FBN Securities began coverage on Rubrik in a research note on Monday, September 30th. They issued an “outperform” rating and a $40.00 target price on the stock. Piper Sandler initiated coverage on Rubrik in a research note on Monday, August 19th. They set an “overweight” rating and a $42.00 price target for the company. Finally, Cantor Fitzgerald raised Rubrik to a “strong-buy” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $60.59.

Rubrik Stock Performance

NYSE RBRK opened at $64.54 on Friday. Rubrik has a 1 year low of $28.34 and a 1 year high of $72.66. The company has a fifty day moving average of $42.65 and a two-hundred day moving average of $36.18.

Rubrik (NYSE:RBRK) last announced its earnings results on Monday, September 9th. The company reported ($0.97) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million for the quarter, compared to analyst estimates of $195.58 million. As a group, analysts predict that Rubrik will post -8.04 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Brian K. Mccarthy sold 25,000 shares of Rubrik stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $64.37, for a total transaction of $1,609,250.00. Following the completion of the transaction, the executive now directly owns 312,545 shares in the company, valued at $20,118,521.65. The trade was a 7.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kiran Kumar Choudary sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $65.78, for a total value of $1,973,400.00. Following the completion of the sale, the chief financial officer now directly owns 342,960 shares in the company, valued at approximately $22,559,908.80. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 574,912 shares of company stock worth $22,673,114.

Hedge Funds Weigh In On Rubrik

Institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. purchased a new position in shares of Rubrik during the third quarter valued at approximately $25,000. KBC Group NV purchased a new position in shares of Rubrik during the 3rd quarter worth $72,000. Quent Capital LLC acquired a new stake in shares of Rubrik during the third quarter worth $192,000. Mount Yale Investment Advisors LLC purchased a new stake in shares of Rubrik in the third quarter valued at $208,000. Finally, Whalen Wealth Management Inc. acquired a new position in Rubrik in the third quarter valued at $243,000.

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.