Zscaler (ZS) closed the most recent trading day at $195.50, moving +1.35% from the previous trading session.
Zscaler (ZS) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
While Zscaler's (ZS) long-term growth story remains compelling, the stock's current valuation and key technical indicators suggest that now may not be the ideal time to buy aggressively.
Zscaler reported its Q3 FY24 earnings in late May where revenue and earnings grew 32% and 90% YoY, respectively, as it continued to penetrate the Enterprise segment and the Federal market. The company hosted its Investor Day, where they have expanded their TAM to $96B as they drive robust internal product innovation while acquiring Avalor and Airgap to strengthen its positioning. With customers generating $100K+ and $1M+ ARR steadily growing, it is also benefiting from vendor consolidation as well as an account-centric approach to acquisition and upsell.
Zscaler (ZS) closed at $165.75 in the latest trading session, marking a +0.31% move from the prior day.
Zscaler proved to be one of the few software companies that didn't disappoint this earnings season. The company delivered 32% YoY revenue growth and its first quarter with positive GAAP net income. Despite a projected sequential slowdown in growth blamed on salesforce attrition, the stock continues to look attractive given the valuation and strong financial metrics.
Recently, Zacks.com users have been paying close attention to Zscaler (ZS). This makes it worthwhile to examine what the stock has in store.
Zscaler (ZS) reachead $179.35 at the closing of the latest trading day, reflecting a +1.47% change compared to its last close.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
Zscaler is poised to benefit dramatically from the increasing adoption of zero-trust security architecture for protecting cloud and AI workloads. Adobe is capitalizing on advanced AI technologies to expand its addressable market and improve monetization of its large user base.
The latest trading day saw Zscaler (ZS) settling at $191.07, representing a +1.41% change from its previous close.
Zscaler's revenue and earnings outpaced Wall Street forecasts so far this year. The stock tumbled as investors digested confirmation of slowing growth and increasing competition.