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

Core Insights - Rubrik Inc. is recognized as a promising stock with significant upside potential, with CIBC raising its price target to $130 from $125 while maintaining an Outperform rating [1] - The company's FQ2 2026 earnings report showed strong financial performance, with total revenue of $310 million, a 51% year-over-year increase [2] - CIBC forecasts revenue growth of 34% for FY2026 and 23% for FY2027, despite a conservative outlook for FQ3 [1][2] Financial Performance - Subscription revenue reached $297 million, reflecting a 55% increase from the previous year [2] - Annual Recurring Revenue (ARR) surpassed $1.25 billion, growing by 36% year-over-year [2] - The company added $71 million in Net New Subscription ARR for the quarter, with a Subscription Net Retention Rate above 120% [2][3] Customer Growth and Profitability - Rubrik's customer base expanded to 2,505 customers with over $100,000 in Subscription ARR, marking a 27% increase year-over-year [3] - The company reported improved profitability and cash flow, with a cash position of $1.5 billion at the end of the quarter, including cash equivalents, restricted cash, and marketable securities [3]