Rubrik (NYSE:RBRK) Price Target Lowered to $38.00 at BMO Capital Markets

Rubrik (NYSE:RBRK) had its target price cut by BMO Capital Markets from $40.00 to $38.00 in a research report sent to investors on Tuesday, MarketBeat.com reports. They currently have an outperform rating on the stock.

Several other research firms have also recently issued reports on RBRK. 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 objective for the company. The Goldman Sachs Group assumed coverage on Rubrik in a research report on Monday, May 20th. They set a buy rating and a $48.00 price objective for the company. Barclays raised their target price on Rubrik from $41.00 to $42.00 and gave the stock an overweight rating in a research report on Wednesday, June 12th. Truist Financial started coverage on Rubrik in a report on Monday, May 20th. They issued a buy rating and a $43.00 price target for the company. Finally, Capital One Financial assumed coverage on shares of Rubrik in a report on Monday, May 20th. They set an overweight rating and a $42.00 price objective on the stock. Fifteen analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Rubrik has a consensus rating of Buy and a consensus target price of $44.69.

Rubrik Price Performance

Shares of RBRK opened at $30.50 on Tuesday. Rubrik has a 1 year low of $28.34 and a 1 year high of $40.00. The firm has a 50-day moving average of $33.54.

Rubrik (NYSE:RBRK) last issued its quarterly earnings results 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 the consensus estimate of $171.60 million. As a group, sell-side analysts expect that Rubrik will post -7.93 EPS for the current year.

Institutional Trading of Rubrik

A number of hedge funds have recently added to or reduced their stakes in the stock. Register Financial Advisors LLC purchased a new position in Rubrik in the 2nd quarter valued at $227,000. Sei Investments Co. purchased a new stake in shares of Rubrik in the second quarter valued at about $235,000. PFG Investments LLC acquired a new position in shares of Rubrik during the second quarter worth about $242,000. Natixis Advisors LLC purchased a new position in Rubrik during the second quarter worth about $406,000. Finally, Bank of Montreal Can purchased a new stake in Rubrik in the 2nd quarter valued at approximately $427,000.

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.