ZScaler (ZS) $182 up 14% post-market. Reiterating Buy
Trade Alert – Bought at $174
ZScaler hit it out of the park, the cloud security firm raised its annual revenue guidance for a third straight quarter amid rising cyberattacks and hacking attempts.
FQ3 2024 adjusted profit of 88 cents per share on revenue of $553.2M, beating earnings of 65 cents and revenues of $536Mn handily!
Billings grew 30% Y/Y to $628M and deferred revenue increased 34% to $1.577B.
Zscaler (ZS) top boss Jay Chaudhry noted “growing customer interest” in the company’s Zero Trust Exchange platform.
Guidance: ZS upped its full-year fiscal 2024 revenue guidance for a third straight quarter. It now sees sales of about $2.14B to $2.142B, above the consensus estimate of $2.12B. ZS also raised its calculated billings guidance to $2.603B-$2.606B from a prior forecast of $2.55B-$2.57B.
For FQ4, Zscaler (ZS) anticipates earning 69 cents to 70 cents per share on an adjusted basis, on revenue of $565M to $567M, higher than consensus estimates of earnings of 67 cents per share on revenue of $564.98M.
I continue to buy on declines, I had started around $190-$200 and added more at $174 today.