Cybersecurity Stock Zscaler's Impressive Q3 Print And Federal Expansion Boost Analyst Confidence
Portfolio Pulse from Anusuya Lahiri
Zscaler Inc (NASDAQ:ZS) reported better-than-expected third-quarter earnings, leading to a rise in its stock price. Multiple analysts have adjusted their price targets, with some maintaining positive ratings and others expressing caution due to macroeconomic challenges and sales attrition. The company showed strong demand, particularly in the Federal sector, and raised its guidance for the fourth quarter.
May 31, 2024 | 5:46 pm
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Zscaler reported strong Q3 earnings, beating estimates and showing robust demand, particularly in the Federal sector. Analysts have adjusted their price targets, with some maintaining positive ratings and others expressing caution due to macroeconomic challenges and sales attrition. The company raised its guidance for the fourth quarter.
Zscaler's better-than-expected Q3 earnings and raised guidance for Q4 have positively impacted its stock price. The strong demand, particularly in the Federal sector, and the company's technological leadership in zero trust platforms are key factors driving this positive outlook. Despite some caution due to macroeconomic challenges and sales attrition, the overall sentiment remains positive.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100