On August 26, Rubrik Inc. rose 5.04% in after-hours trading, trading at $100.0/share, with turnover of $3.05 million. The company released its latest quarterly earnings report after the close, triggering a positive market reaction.

Heading into the report, expectations were elevated following a strong prior quarter in which revenue reached $387.1 million, up 39% year over year and well above the Wall Street estimate of $366.3 million. Adjusted EPS swung to $0.16, dramatically beating the consensus estimate of a $0.03 loss. Subscription ARR grew to $1.57 billion, and the company raised its full-year revenue guidance to $1.64-$1.65 billion, above the $1.61 billion analyst consensus.

Multiple investment banks raised price targets ahead of the release. Truist lifted its target from $90 to $135, maintaining a Buy rating, while Oppenheimer raised its target to $120, keeping an Outperform rating. The FactSet consensus rating stood at Buy with a mean target of $104.30. The stock had declined 5.02% on August 25 amid pre-earnings profit-taking, and the after-hours rebound reflects validation of growth expectations.

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