Does Rubrik Make the Grade After Reporting Earnings?
Let's take a look at the charts of this recent IPO.
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Tuesday night Rubrik (RBRK) reported its first-quarter fiscal year 2025 results. The data security company posted a non-GAAP loss of $1.58 per share, which beat expectations by $0.15, and revenue of $187.3 million, which beat by $15.91 million. The "new issue" also raised its guidance above expectations.
Rubrik launched its IPO in late April so technical analysts do not have a lot of price history to work with. Let's look at two charts.
In the daily bar chart of RBRK, below, I can see a small sideways trend. Prices weakened into late May and then turned higher. Then shares are now trading above the rising 10-day and 20-day moving average lines (we don't have enough price history to use our typical 50-day and 200-day averages).
Trading volume has been light and the daily On-Balance-Volume (OBV) line has moved sideways.
In this daily Point and Figure chart of RBRK, below, I have the same handicap of not having a lot of price history. Here the software suggests an upside price target in the $48 area.
Bottom-line strategy: Risking to $31, traders could go long RBRK looking for a rally in the $48 area.
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