Rubrik, Inc. (NYSE:RBRK – Get Free Report)’s stock price gapped down prior to trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $42.00 to $40.00. The stock had previously closed at $32.06, but opened at $29.85. Wells Fargo & Company currently has an overweight rating on the stock. Rubrik shares last traded at $30.00, with a volume of 720,005 shares changing hands.
A number of other equities research analysts have also commented on the company. Deutsche Bank Aktiengesellschaft initiated coverage on Rubrik in a research report on Monday, May 20th. They set a “buy” rating and a $42.00 price target on the stock. The Goldman Sachs Group assumed coverage on Rubrik in a research note on Monday, May 20th. They issued a “buy” rating and a $48.00 target price for the company. Guggenheim restated a “buy” rating and issued a $48.00 target price on shares of Rubrik in a research note on Tuesday, June 25th. Capital One Financial initiated coverage on Rubrik in a research note on Monday, May 20th. They issued an “overweight” rating and a $42.00 target price for the company. Finally, Cibc World Mkts upgraded Rubrik to a “strong-buy” rating in a research report on Tuesday, May 21st. Fifteen equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Rubrik has a consensus rating of “Buy” and a consensus target price of $44.63.
Hedge Funds Weigh In On Rubrik
Institutional investors have recently modified their holdings of the business. Register Financial Advisors LLC bought a new position in shares of Rubrik during the 2nd quarter valued at about $227,000. Sei Investments Co. bought a new position in shares of Rubrik during the 2nd quarter valued at about $235,000. PFG Investments LLC bought a new position in shares of Rubrik during the 2nd quarter valued at about $242,000. Natixis Advisors LLC bought a new position in shares of Rubrik during the 2nd quarter valued at about $406,000. Finally, Bank of Montreal Can bought a new position in shares of Rubrik during the 2nd quarter valued at about $427,000.
Rubrik Price Performance
The firm’s fifty day moving average price is $33.46.
Rubrik (NYSE:RBRK – Get Free Report) last released its earnings results on Tuesday, June 11th. The company reported ($11.47) EPS for the quarter, missing the consensus estimate of ($10.88) by ($0.59). The business had revenue of $187.32 million during the quarter, compared to analysts’ expectations of $171.60 million. Equities analysts expect that Rubrik, Inc. will post -7.7 earnings per share for the current year.
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.