Why Zscaler Shares Are Trading Higher By Around 18%; Here Are 20 Stocks Moving Premarket
Portfolio Pulse from Avi Kapoor
Zscaler, Inc. (NASDAQ:ZS) shares surged 17.5% in pre-market trading after reporting better-than-expected third-quarter earnings. The company posted a 32% year-over-year revenue increase to $553.2 million, beating estimates, and adjusted earnings of 88 cents per share, surpassing analyst expectations. Other notable pre-market movers include Nuburu, Inc. (NYSE:BURU), XChange Tec Inc (NASDAQ:XHG), and MongoDB, Inc. (NASDAQ:MDB).
May 31, 2024 | 11:44 am
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NEGATIVE IMPACT
MongoDB, Inc. shares dipped 24.5% in pre-market trading after issuing weak FY25 guidance.
The significant drop in MongoDB's stock price is due to the company's weak FY25 guidance, which likely disappointed investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 50
POSITIVE IMPACT
Nuburu, Inc. shares rose 71.9% in pre-market trading after a previous decline of around 12%.
The sharp increase in Nuburu's stock price follows a significant decline, indicating a potential rebound or correction.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
XChange Tec Inc shares gained 64.9% in pre-market trading after a 15% dip on Thursday.
The significant pre-market gain in XChange Tec's stock price follows a notable decline, suggesting a potential recovery or market correction.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Zscaler shares rose 17.5% in pre-market trading after the company reported strong Q3 earnings, with revenue up 32% YoY to $553.2 million and adjusted EPS of 88 cents, beating analyst estimates.
The significant rise in Zscaler's stock price is directly attributed to its strong Q3 earnings report, which exceeded market expectations in both revenue and earnings per share.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100