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In the latest market close, Zscaler (ZS - Free Report) reached $202.85, with a +0.68% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.39%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.6%.
The the stock of cloud-based information security provider has risen by 6.03% in the past month, leading the Computer and Technology sector's gain of 0.59% and the S&P 500's gain of 1.06%.
Market participants will be closely following the financial results of Zscaler in its upcoming release. The company plans to announce its earnings on December 2, 2024. The company is forecasted to report an EPS of $0.63, showcasing a 5.97% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $605.68 million, reflecting a 21.94% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.85 per share and a revenue of $2.61 billion, demonstrating changes of -10.66% and +20.57%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Zscaler. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 2.27% fall in the Zacks Consensus EPS estimate. At present, Zscaler boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Zscaler is currently exchanging hands at a Forward P/E ratio of 70.81. This signifies a premium in comparison to the average Forward P/E of 30.95 for its industry.
Meanwhile, ZS's PEG ratio is currently 9.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.35.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Why Zscaler (ZS) Outpaced the Stock Market Today
In the latest market close, Zscaler (ZS - Free Report) reached $202.85, with a +0.68% movement compared to the previous day. This move outpaced the S&P 500's daily gain of 0.39%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.6%.
The the stock of cloud-based information security provider has risen by 6.03% in the past month, leading the Computer and Technology sector's gain of 0.59% and the S&P 500's gain of 1.06%.
Market participants will be closely following the financial results of Zscaler in its upcoming release. The company plans to announce its earnings on December 2, 2024. The company is forecasted to report an EPS of $0.63, showcasing a 5.97% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $605.68 million, reflecting a 21.94% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.85 per share and a revenue of $2.61 billion, demonstrating changes of -10.66% and +20.57%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Zscaler. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been a 2.27% fall in the Zacks Consensus EPS estimate. At present, Zscaler boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Zscaler is currently exchanging hands at a Forward P/E ratio of 70.81. This signifies a premium in comparison to the average Forward P/E of 30.95 for its industry.
Meanwhile, ZS's PEG ratio is currently 9.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 2.35.
The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.