Zscaler beat analyst targets in fiscal Q3 2024. The company reported positive free cash flow as well and its first-ever quarterly GAAP profit.
Shares of cloud security provider Zscaler (ZS) surged Friday, a day after it released third-quarter results that easily beat estimates.
Zscaler's (ZS) Q3 results reflect benefits from increased success in selling bigger bundles and multiple product pillars from the beginning of the quarter and achieving faster upsells within a year.
Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Zscaler, Inc. (NASDAQ:ZS ) Q3 2024 Earnings Conference Call May 30, 2024 4:30 PM ET Company Participants Ashwin Kesireddy - Vice President of Investor Relations and Strategic Finance Jay Chaudhry - Chairman and Chief Executive Officer Remo Canessa - Chief Financial Officer Conference Call Participants Matt Hedberg - RBC Capital Markets Saket Kalia - Barclays Alex Henderson - Needham & Co. Brad Zelnick - Deutsche Bank Roger Boyd - UBS Param Singh - Oppenheimer & Co. Eric Heath - KeyBanc Capital Markets Joseph Gallo - Jefferies Fatima Boolani - Citi Shrenik Kothari - Robert W. Baird Gray Powell - BTIG Gregg Moskowitz - Mizuho Securities Tal Liani - Bank of America Adam Borg - Stifel Nicolaus Operator Hello, and thank you for standing by.
Zscaler (ZS) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.65 per share. This compares to earnings of $0.48 per share a year ago.
Zscaler forecast fourth-quarter revenue and profit above estimates on Thursday, as businesses spend more on cybersecurity and networking solutions to combat complex online threats, sending its shares up 14% after the bell.
Zscaler reported fiscal Q3 earnings that beat Wall Street targets. The cybersecurity firm's revenue guidance met expectations.
After dropping about 5% in Thursday's regular session during a software-sector rout, Zscaler Inc.'s stock was surging 15% in the extended session.
Cybersecurity stocks are selling off Tuesday as investors prepare for more earnings reports within the industry.
Zscaler's (ZS) expanding portfolio, client base, acquisitions and partnerships are key upsides. However, considering a stretched valuation and near-term headwinds from macroeconomic uncertainties, it will be prudent for investors to wait for a better entry time.
Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Zscaler (ZS), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended April 2024.