Zscaler Likely To Report Higher Q1 Earnings; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call
Portfolio Pulse from Lisa Levin
Zscaler, Inc. (NASDAQ:ZS) is expected to report higher earnings for Q1 FY2024 with an estimate of 49 cents per share, up from 29 cents per share a year ago. Revenue is projected at $476.74 million. The company previously reported better-than-expected fiscal Q4 results. Shares fell 0.4% to $190.64 recently. Analysts have revised their price targets and ratings, with upgrades and increases in price targets from BTIG, Rosenblatt, Truist Securities, Jefferies, and Barclays.
November 24, 2023 | 3:20 pm
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Zscaler is anticipated to report increased earnings for Q1 FY2024, with positive revisions from analysts leading to upgrades and higher price targets. Recent share price saw a slight decline.
The anticipation of higher earnings and positive analyst revisions typically lead to increased investor confidence and could drive the stock price up in the short term. The slight recent dip in share price may be seen as a buying opportunity in light of the positive forecasts.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100