Rubrik Plunges 9.7% Despite Q2 Beat and Raised Guidance
RBRK has more than doubled off its 52-week low of $42.25 on elevated volume (2.3× avg).
Summary
Rubrik beat Q2 estimates with EPS of 22 cents vs 4 cents expected and revenue of $427.26M vs $396.28M, but shares fell 9.73% to $97 in extended trading. The company raised full-year adjusted EPS guidance to 47-53 cents (vs 31 cent estimate) and revenue outlook to $1.685B-$1.693B (vs $1.65B estimate). Subscription ARR grew 33% YoY to $1.66B and Cloud ARR grew 39% to $1.48B. The selloff despite strong numbers suggests investors were pricing in even better results or are concerned about valuation. This follows the earlier Dow Jones report of the EPS beat, but adds the post-earnings price action and raised guidance details.
At the time of this announcement, RBRK was trading at $99.06 on NYSE in the Technology sector, with a market capitalization of approximately $22B. The 52-week trading range was $42.25 to $107.91. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.