Rubrik (NYSE:RBRK) Given New $70.00 Price Target at Cantor Fitzgerald

Rubrik (NYSE:RBRK) had its target price hoisted by stock analysts at Cantor Fitzgerald from $58.00 to $70.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target suggests a potential downside of 0.27% from the company’s current price.

Several other equities research analysts have also recently weighed in on RBRK. Piper Sandler reiterated an “overweight” rating and set a $72.00 price target (up from $42.00) on shares of Rubrik in a research report on Friday. Citigroup upped their target price on shares of Rubrik from $47.00 to $48.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Barclays raised their price target on shares of Rubrik from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Oppenheimer assumed coverage on Rubrik in a research report on Wednesday, November 13th. They issued a “market perform” rating on the stock. Finally, Guggenheim boosted their target price on Rubrik from $48.00 to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.71.

Rubrik Stock Up 30.8 %

RBRK traded up $16.53 on Friday, hitting $70.19. The company’s stock had a trading volume of 7,807,521 shares, compared to its average volume of 1,519,858. The company’s 50 day simple moving average is $42.00 and its 200-day simple moving average is $35.98. Rubrik has a 12 month low of $28.34 and a 12 month high of $71.34.

Rubrik (NYSE:RBRK) last posted its quarterly earnings results on Monday, September 9th. The company reported ($0.97) EPS for the quarter, missing analysts’ consensus estimates of ($0.96) by ($0.01). The firm had revenue of $204.95 million during the quarter, compared to analysts’ expectations of $195.58 million. On average, sell-side analysts expect that Rubrik will post -8.04 EPS for the current year.

Insider Transactions at Rubrik

In related news, CFO Kiran Kumar Choudary sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $39.40, for a total transaction of $59,100.00. Following the transaction, the chief financial officer now directly owns 423,060 shares in the company, valued at $16,668,564. This trade represents a 0.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Brian K. Mccarthy sold 104,672 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $31.32, for a total value of $3,278,327.04. Following the completion of the sale, the executive now owns 462,545 shares of the company’s stock, valued at $14,486,909.40. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 518,112 shares of company stock worth $18,997,746.

Institutional Investors Weigh In On Rubrik

Several institutional investors have recently added to or reduced their stakes in RBRK. Brown Brothers Harriman & Co. purchased a new stake in Rubrik in the 3rd quarter worth approximately $25,000. KBC Group NV bought a new position in shares of Rubrik during the third quarter valued at approximately $72,000. Quent Capital LLC purchased a new stake in Rubrik in the third quarter worth $192,000. Mount Yale Investment Advisors LLC bought a new stake in Rubrik in the third quarter valued at $208,000. Finally, Barclays PLC increased its position in Rubrik by 140.6% during the 3rd quarter. Barclays PLC now owns 12,029 shares of the company’s stock valued at $386,000 after purchasing an additional 7,029 shares during the period.

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.