CIBC Boosts Rubrik (NYSE:RBRK) Price Target to $52.00

Rubrik (NYSE:RBRK) had its price objective increased by CIBC from $50.00 to $52.00 in a report released on Tuesday, Benzinga reports. They currently have an outperformer rating on the stock.

Several other equities analysts have also issued reports on the stock. Piper Sandler assumed coverage on shares of Rubrik in a report on Monday, August 19th. They issued an overweight rating and a $42.00 price target for the company. Wedbush lowered their price target on Rubrik from $50.00 to $44.00 and set an outperform rating for the company in a report on Tuesday. Cibc World Mkts upgraded Rubrik to a strong-buy rating in a report on Tuesday, May 21st. Cantor Fitzgerald reissued an overweight rating and set a $50.00 target price on shares of Rubrik in a research note on Tuesday. Finally, Capital One Financial began coverage on shares of Rubrik in a research note on Monday, May 20th. They issued an overweight rating and a $42.00 price target on the stock. Fifteen investment analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Buy and an average target price of $44.69.

Rubrik Trading Down 8.3 %

Shares of RBRK opened at $30.73 on Tuesday. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00. The stock’s 50-day moving average is $33.58.

Rubrik (NYSE:RBRK) last issued 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 company had revenue of $187.32 million for the quarter, compared to analysts’ expectations of $171.60 million. As a group, equities analysts predict that Rubrik will post -7.7 earnings per share for the current year.

Institutional Trading of Rubrik

Institutional investors and hedge funds have recently bought and sold shares of the stock. ARK Investment Management LLC acquired a new position in shares of Rubrik during the 2nd quarter worth approximately $6,043,000. Liberty Street Advisors Inc. acquired a new position in Rubrik during the second quarter worth $4,117,000. Roubaix Capital LLC bought a new stake in Rubrik during the second quarter worth $2,115,000. EFG Asset Management North America Corp. bought a new stake in Rubrik during the second quarter worth $925,000. Finally, Commonwealth Equity Services LLC acquired a new stake in Rubrik in the second quarter valued at $503,000.

Rubrik Company Profile

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.