Rubrik (RBRK) shares jumped more than 32% in recent Friday trading following analyst price target raises after it reported better-than-expected fiscal Q3 results late Thursday.

Wedbush raised its price target on Rubrik to $75 from $48, with an outperform rating, while Truist Securities adjusted the price target upwards to $75 from $50, with a buy rating.

Rubrik reported a narrower fiscal Q3 non-GAAP net loss late Thursday of $0.21 per diluted share on a revenue of $236.2 million. Analysts polled by FactSet, on average, expected a $0.40 loss on a revenue of $217.5 million.

Rubrik is in the early stages of its growth story with a "unique" product offering, "a durable pipeline and a strong go-to-market strategy," Wedbush said in a note Friday. Additionally, the note said that the company is in a good position as there is rising demand for its data security posture management, or DSPM, offerings.

Price: 71.70, Change: +18.04, Percent Change: +33.61