• In its third quarter of fiscal 2026, reported in the past, Rubrik delivered a beat-and-raise performance, shifting from a non-GAAP net loss to non-GAAP net income on the back of demand for its cybersecurity and AI offerings, and lifted its full-year revenue outlook while narrowing its expected adjusted net loss.
• What stands out is that Rubrik’s progress reflects not just higher customer interest in data security, but also operational improvements strong enough to prompt management to tighten loss expectations for the rest of fiscal 2026.
• Next, we’ll examine how Rubrik’s improved guidance and turn to non-GAAP profitability may reshape its existing investment narrative for investors.

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Rubrik Investment Narrative Recap

To own Rubrik, you need to believe in growing demand for data security and AI-powered resilience, and that Rubrik can convert that demand into durable, improving profitability. The latest beat-and-raise quarter and shift to non-GAAP net income support that thesis in the near term, but do not remove key risks such as intense cyber resilience competition and the company’s ongoing reliance on forward-looking assumptions in its guidance.

Among recent announcements, Rubrik Agent Cloud for Amazon Bedrock AgentCore ties directly into the same AI and cybersecurity story that underpins the Q3 beat. It extends Rubrik’s role from data protection into monitoring and governing AI agents in multi cloud environments, which may matter for investors focused on AI adoption as a catalyst, while still leaving questions about timing and scale of monetization.

Yet investors should also be aware of how aggressive competition in cyber resilience could affect...

Rubrik's narrative projects $2.0 billion revenue and $257.3 million earnings by 2028. This requires 26.2% yearly revenue growth and an earnings increase of about $782 million from -$524.8 million today.

Uncover how Rubrik's forecasts yield a $111.95 fair value, a 64% upside to its current price.

Exploring Other Perspectives

Thirteen members of the Simply Wall St Community currently see Rubrik’s fair value anywhere between US$20.80 and US$112.31, with estimates spread across the full range. When you set those views against Rubrik’s early stage AI and cloud transformation, it becomes clear that investor opinions can differ widely and that it can help to weigh several perspectives before forming a view on the company’s potential performance.

Explore 13 other fair value estimates on Rubrik - why the stock might be worth less than half the current price!

Build Your Own Rubrik Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Rubrik research is our analysis highlighting 3 key rewards and 2 important warning signs that could impact your investment decision.
• Our free Rubrik research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Rubrik's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.