Why Downtrodden Zscaler Stock Suddenly Soared Today
Shares of zero-trust cybersecurity specialist (NASDAQ: ZS) suddenly soared on Monday after reporting upbeat preliminary financial results for its fiscal third quarter of 2023 and raising full-year financial guidance. The stock is downtrodden and still 45% below its 52-week high, even after today's gains. But as of 10:20 a.m., Zscaler stock is up about 20% for today's session.
When Zscaler reported financial results for its fiscal second quarter back in March, the stock dropped because investors weren't satisfied with the company's bookings growth or with its guidance for Q3. That's noteworthy because Q3 is apparently shaping up better than anticipated.
For Q3, Zscaler's management expects to report revenue of $415 million to $419 million -- remember, these results are preliminary, so the numbers aren't final. That's 4% to 6% better than management's previously guided range.
Source Fool.com
Zscaler Inc Stock
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With a target price of 205 € there is a positive potential of 23.66% for Zscaler Inc compared to the current price of 165.78 €.
