Rubrik Inc (NYSE:RBRK) stock is soaring today, last seen up 24.6% at $87.82, after the cloud data management company reported better-than-expected third-quarter earnings and revenue and trimmed its full-year loss forecast. No fewer than four analysts lifted their price targets after the event.
Gapping above recent pressure at the 30-day moving average, RBRK is trading at its highest levels since mid-September as it heads for its best daily percentage gain since March 14. Since the start of the year, the equity is up 34.2%.
Some of today's price action could be attributed to short covering, as short interest represents 9% of RBRK's available float. It would take shorts nearly four days to cover, at the stock's average pace of trading.
Options traders are chiming in as expected, with 27,000 calls and 13,000 puts exchanged so far -- 14 times the average daily amount already. The weekly 12/5 77.50-strike put is the most popular, with new positions being sold to open there.
