Rubrik (NYSE:RBRK) Releases Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Rubrik (NYSE:RBRK) released its earnings results on Thursday. The company reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.22), Zacks reports. The company had revenue of $258.10 million during the quarter, compared to analyst estimates of $233.13 million. The business’s quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.59) EPS.

Rubrik Trading Down 3.4 %

Shares of RBRK stock opened at $55.19 on Friday. Rubrik has a one year low of $28.34 and a one year high of $80.00. The business’s 50 day simple moving average is $68.42 and its 200 day simple moving average is $53.26.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Rubrik from $72.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, December 19th. Cantor Fitzgerald lifted their price target on Rubrik from $58.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Guggenheim reiterated a “buy” rating and set a $76.00 price objective on shares of Rubrik in a research report on Wednesday, February 26th. Rosenblatt Securities raised shares of Rubrik from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a research report on Wednesday. Finally, Mizuho upped their price target on shares of Rubrik from $75.00 to $82.00 and gave the company an “outperform” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Rubrik currently has an average rating of “Buy” and a consensus price target of $66.72.

Insider Activity

In other news, Director John Wendell Thompson sold 9,009 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $63.18, for a total transaction of $569,188.62. Following the completion of the sale, the director now owns 998 shares of the company’s stock, valued at $63,053.64. This trade represents a 90.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Arvind Nithrakashyap sold 227,596 shares of the business’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $64.89, for a total transaction of $14,768,704.44. Following the transaction, the chief technology officer now owns 219,279 shares in the company, valued at $14,229,014.31. The trade was a 50.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 625,712 shares of company stock valued at $41,583,311.

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.