On June 4, Rubrik fell 5.17% in after-hours trading, trading at $75.35/share, with trading volume of approximately $21.63 million.
On the news front, Rubrik released its latest quarterly earnings report after the close. Ahead of the release, market consensus had expected revenue of $366 million, representing 40.69% year-over-year growth, with adjusted EPS of -$0.03, reflecting a 90.12% year-over-year improvement as losses narrowed significantly.
Notably, Rubrik shares had surged from approximately $65 to above $82 in the days leading up to the report, driven by BTIG reiterating its Buy rating and raising its price target from $64 to $76 based on positive channel checks, as well as the announcement of a partnership with Sophos to deliver Microsoft 365 backup and recovery solutions. The after-hours pullback appears to reflect profit-taking pressure following substantial pre-earnings gains, compounded by broad weakness in the Systems Software sector, where CrowdStrike fell 10.29%, Oracle declined 3.29%, and Palo Alto Networks dropped 2.65%.
(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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