Why Zscaler Outshone the Market in September
Shares of Zscaler (NASDAQ: ZS) rose 3.2% in September, according to data provided by S&P Global Market Intelligence. While that might not sound like a lot, it's significantly better than the S&P 500's 9.3% decline and the 10.5% plunge in the Nasdaq Composite. Several factors helped the cloud-based cybersecurity stock outshine the broader stock market indexes last month.
Zscaler reported its fourth-quarter and fiscal 2022 financial results in early September. They were excellent in every way. Revenue rocketed 61% year over year in the fourth quarter to $318.1 million. Meanwhile, free cash flow came in at 24% of revenue, a considerable increase from 14% in the year-ago period. For the full year, revenue surged 62% to nearly $1.1 billion, while free cash flow was $231.3 million, pushing its cash balance to over $1.7 billion.
The company expects to continue growing briskly in its 2023 fiscal year. It sees revenue rising to between $1.49 billion and $1.5 billion, implying nearly 38% growth.
Source Fool.com
