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Wednesday, June 23, 2021

Does Zscaler Inc. (ZS) Represent A Potential Buying Opportunity?

Zscaler Inc. (ZS), a developer of cloud-based cybersecurity solutions, maintains its double-digit revenue growth acceleration during COVID-19’s pandemic.


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Zscaler Inc. (ZS) shares ended Wednesday’s session up 12.42% at $194.20. There were 7.97 million shares traded, a higher number than the average daily volume of 1.93 million over the past 50 days. During the last year, ZS stock has increased by 160.57%, and they have witnessed a 17.83% increase in the previous week. Within the past three months, the stock has lost -0.81%, while within the past six months, it has gained 35.77%. Its current market value is $26.50 billion, and it has 135.02 million outstanding shares.

Zscaler’s revenue for the third quarter of the fiscal year 2021 (ended April 30) was $ 176.4 million, increasing 60%. A $ 21.4 million non-GAAP profit was recorded, and a $ 58.5 million GAAP loss was recorded in comparison to $ 10 million a year earlier.

Zscaler Inc. (ZS) continues to prosper in the cloud era since it provides cybersecurity tools based on a zero-trust model, where data is protected at all levels of the IT system, regardless of access privileges. Many organizations opted to use telecommuting during the pandemic, driving Zscaler’s sales growth. Accordingly, operating cash flows grew by 253 % and free cash flows by 513 %, respectively, to $73.4 million and $55.7 million in the past quarter. Cloud computing has already begun and is unlikely to fade after the COVID crisis.

In addition, Zscaler continues to expand its geographical presence. As part of the acquisition in the last quarter, the company acquired the Trustdome business, an Israeli software development center. Moreover, Zscaler will expand its global presence due to this acquisition, which will enable the company to open its first development center in Israel, where new investments will be made in the future.

During the current quarter, analysts expect Zscaler Inc. (ZS) to generate revenue between $ 185 and $ 187 million, operating profits between $ 13.5 and $ 14.5 million, and EPS in the range of $0.08 – $0.09. Company analysts forecast a full fiscal year revenue range of $ 660 – $ 664 million and a non-GAAP profit range of $ 71 – $ 72 million.

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