ZS: Great Quarter, Stock -7%; Implications For CRWD & SNOW
Cloud cybersecurity firm Zscaler (ZS) just reported an excellent quarter – and the stock is -7% in the after hours. Revenue was +40% to $497 million and EPS of 67 cents was +131%. ZS also raised full year guidance to revenue of $2090-$2100 million and EPS of $2.45-$2.48 – from $2050-$2065 million and $2.20-$2.25, respectively. It’s a blowout quarter. But sometimes it’s in the price already – as was the case with Nvidia last week.
This likely has implications for two other up and coming cloud names that report later this week: Crowdstrike (CRWD) and Snowflake (SNOW).
