Why Zscaler Stock Dropped Today
Shares of Zscaler (NASDAQ: ZS) fell as much as 6% early Wednesday, then settled to trade down around 3% as of 2:40 p.m. ET despite announcing stronger-than-expected fiscal fourth-quarter results (for the period ended July 31, 2023) and encouraging forward guidance.
On the former, quarterly revenue climbed 43% year over year to $719.3 million, translating to adjusted net income of $100.9 million, or $0.64 per share. Analysts, on average, were looking for adjusted earnings of only $0.50 per share on revenue of $431.3 million.
Zscaler saw a healthy 38% year-over-year increase in calculated billings -- a key metric to help gauge future revenue growth. Deferred revenue also climbed 41% to $1.4397 billion. Chairman and CEO Jay Chaudhry noted the company has more than doubled its annual recurring revenue over the past two years, exceeding $2 billion as of the end of this fiscal year.
Source Fool.com
Zscaler Inc Aktie
Einseitige Meinung: Zscaler Inc erhält nur Buy-Einschätzungen und keine Sell-Einschätzungen.
Ein Kursziel von 235 € für Zscaler Inc würde eine Steigerung von mehr als 50% gegenüber dem aktuellen Kurs von 131.12 € bedeuten.
