CIBC Raises Rubrik (RBRK) PT to $130 Following Strong Q2 Earnings

Rubrik Inc. (NYSE:RBRK) is one of the best up and coming stocks with huge upside potential. On September 11, CIBC raised the firm’s price target on Rubrik to $130 from $125, while keeping an Outperform rating on the shares. The firm’s positive thesis on shares was reaffirmed by the FQ2 2026 earnings report despite the conservative FQ3 outlook. CIBC forecasts revenue growth of 34% for FY2026 and 23% for FY2027.

This sentiment followed Rubrik’s FQ2 2026 financial results, with total revenue reaching $310 million, which was a 51% increase year-over-year. Subscription revenue was $297 million, which was up 55% from the prior year. The company’s ARR surpassed $1.25 billion, growing by 36% year-over-year. Net New Subscription ARR for the quarter was $71 million, and the Subscription Net Retention Rate remained strong at above 120%.

The company’s customer base continues to grow, with 2,505 customers having over $100,000 in Subscription ARR, which marked a 27% increase year-over-year. Rubrik also reported improved profitability and cash flow. As of the quarter’s end, Rubrik’s cash position, including cash equivalents, restricted cash, and marketable securities, was $1.5 billion, with $1.1 billion in convertible debt.

Rubrik Inc. (NYSE:RBRK) is a technological company that provides data security solutions to individuals and businesses worldwide.

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Disclosure: None. This article is originally published at Insider Monkey.