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Zscaler stock climbed Thursday night after the cybersecurity firm reported earnings, revenue and billings for its fiscal fourth quarter exceeding Wall Street targets. The forecast for fiscal year 2022 for the ZS share is also slightly higher than forecast.
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Based in San José, California Zscaler (ZS) said profits for the July quarter were 14 cents per share on an adjusted basis, down from 8 cents a year earlier. Revenue increased 57% to $ 197.1 million, the company said.
Analysts had expected Zscaler to earn 9 cents a share on revenue of $ 186.8 million. Billings rose 70% to $ 332.2 million, from an estimate of $ 283 million.
For fiscal 2022, which begins with the October quarter, Zscaler expects revenue of $ 945 million. Analysts had predicted $ 899 million. The company says it expects earnings in the range of 52 to 56 cents per share, in line with estimates of 54 cents.
Zscaler stock extended from entry point
Zscaler stock rose 1.1% to 283.30 on extended trading in the stock market today, after initially declining slightly when the results were released. Prior to Zscaler’s earnings report, the company had a relative strength score of 95 out of 99, according to IBD Stock Checkup.
But the ZS stock is extended from an entry point of 224.04.
Zscaler stock jumped in 2020 amid a corporate shift towards remote working amid the coronavirus crisis. It has increased demand for its web security gateways that inspect customer data traffic for malware.
Zscaler provides cloud-based cybersecurity services through 150 data centers around the world. Zscaler Private Access, or ZPA cloud service, replaces virtual private networks, or VPNs, to support remote working.
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on 5G wireless, artificial intelligence, cybersecurity and cloud computing.
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