ZS - 1 Growth Stock to Buy Hand Over Fist Before It Jumps 140%
2024-03-08 06:39:00 ET
Investors were not impressed with Zscaler 's (NASDAQ: ZS) latest results for the second quarter of fiscal 2024 (for the three months ended Jan. 31), which were released on Feb. 29, as shares of the cybersecurity specialist fell more than 9% following the report.
However, it was surprising to see investors press the panic button. The cybersecurity specialist not only crushed Wall Street's revenue and earnings estimates but also guided strongly for the current quarter. Let's take a closer look at Zscaler's quarterly performance and check why its pullback could be an opportunity for savvy investors to add a fast-growing company to their portfolios.
Zscaler reported fiscal Q2 revenue of $525 million, a jump of 35% from the same quarter last year. Meanwhile, the company's non- GAAP net income more than doubled year over year to $0.76 per share last quarter as compared to $0.37 per share in the year-ago period. Analysts were expecting Zscaler to deliver $0.58 per share in earnings on revenue of $507.6 million, but its growing customer base and an increase in spending by existing customers allowed it to easily crush consensus estimates.
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1 Growth Stock to Buy Hand Over Fist Before It Jumps 140%