ZS - This Magnificent Growth Stock Is Crushing the Market and You May Regret Not Buying It Hand Over Fist Right Now
2023-12-01 16:05:00 ET
Shares of Zscaler (NASDAQ: ZS) have crushed the broader technology sector this year with an impressive gain of 77%, significantly higher than the Nasdaq Composite 's 36% rise, and it looks like this cybersecurity specialist could be heading higher after its latest earnings report.
Zscaler released fiscal 2024 first-quarter results (ended Oct. 31) on Nov. 27. The company's revenue and earnings were well ahead of what Wall Street was anticipating. What's more, its guidance was also better than the consensus estimates. Still, Zscaler stock remained almost flat following the earnings report as it didn't raise its full-year billings guidance. Management adopted a conservative approach on account of potentially cautious spending from customers.
However, the absence of a post-earnings spike in Zscaler stock could be an opportunity for savvy investors to buy more shares of this cybersecurity company before it gets more expensive. Let's look at the reasons why.
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This Magnificent Growth Stock Is Crushing the Market, and You May Regret Not Buying It Hand Over Fist Right Now