Rubrik Inc. (NYSE:RBRK) reported second-quarter financial results that beat expectations and raised its full-year fiscal 2026 outlook on Tuesday.
Rubrik reported second-quarter revenue of $309.86 million, up 51% year-over-year. The revenue total beat a Street consensus estimate of $282.22 million according to data from Benzinga Pro. The company reported a loss of three cents per share in the quarter, beating a Street consensus estimate of a loss of 34 cents per share.
“We continue to build towards a highly profitable growth business,” Rubrik CEO Bipul Sinha said.
The company expects revenue to be in a range of $1.227 billion to $1.237 billion, up from a previous range of $1.179 billion to $1.189 billion. The Street estimate is currently $1.185 billion. The company expects to post a loss of 50 cents to a loss of 44 cents per share, an improvement over previous guidance of a loss of $1.02 to a loss of 96 cents per share.
Rubrik shares fell 2.3% to $96.36 in the pre-market trading.
These analysts made changes to their price targets on Rubrik following earnings announcement.
- Rosenblatt analyst Blair Abernethy maintained Rubrik with a Buy and raised the price target from $110 to $115.
- Barclays analyst Saket Kalia maintained Rubrik with an Overweight rating and raised the price target from $115 to $120.
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