Movement Alert|Rubrik Inc. Rises 5.16% in Regular Trading, Loop Capital Initiates Coverage With Buy Rating and $100 Price Target

Market Focus08-04 22:09

On August 4, Rubrik Inc. rose 5.16% in regular trading, trading at $78.94/share, with turnover of $38.87 million. The move was driven by Loop Capital initiating coverage on the stock with a Buy rating and a $100 price target, implying approximately 27% upside from the current level.

According to FactSet, Rubrik currently holds an average analyst rating of Buy with a consensus price target of $95.41. Multiple institutions including William O'Neil, Berenberg, Oppenheimer, and Truist Securities have previously issued Buy ratings on the stock. On the fundamental side, Rubrik reported fiscal Q1 revenue of $387.1 million, up 39% year over year and well above the $366.3 million consensus estimate. Adjusted EPS of $0.16 swung sharply from a loss of $0.15 a year earlier, beating the expected loss of $0.03. The company also raised its full-year revenue guidance to $1.64–$1.65 billion, above the prior Street estimate of $1.61 billion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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