ZS - Zscaler: Upgrading To Buy Before Earnings
2024-05-29 07:30:13 ET
Summary
- Zscaler is expected to deliver another strong quarter with optimistic sentiment from Wall Street and a compelling valuation after a recent share price plunge.
- The company's previous earnings release showed impressive growth in revenue, adjusted EPS, and free cash flow.
- Technical analysis suggests ZS stock is oversold, and an upgrade from Seeking Alpha Quant ratings adds to the bullish outlook.
Investment thesis
My last rating downgrade before Zscaler's ( ZS ) previous earnings release aged well as the stock plunged by around 32% since late February. The company reports its fiscal Q3 2024 earnings on May 30 post-market, and today, I want to update my thesis in light of this crucial event....
Zscaler: Upgrading To Buy Before Earnings