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Zscaler, Inc. (ZS) operates as a cloud security company worldwide.
The company offers Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
Its platform includes Zscaler Central Authority, Zscaler Enforcement Node, and Zscaler Nanolog Server modules. Zscaler, Inc. serves customers in various industries, such as airlines and transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, technology, and telecommunications services.
The company was formerly known as SafeChannel, Inc., and changed its name to Zscaler, Inc. in August 2008.
Zscaler reported 3rd Quarter April 2020 earnings of $0.04 per share on revenue of $110.5 million. The consensus earnings estimate was $0.02 per share on revenue of $106.4 million. Revenue grew 39.7% on a year-over-year basis.
The company said it expects fourth quarter earnings of $0.02 to $0.03 per share on revenue of $117.0 million to $119.0 million. The current consensus estimate is earnings of $0.01 per share on revenue of $114.8 million for the quarter ending July 31, 2020.
The company's better than expected earnings report has pushed shares into a "bullish flag" formation. Higher share prices out of this formation should be expected.
Entry point: $102.50
52-week trade range: $35.00 - $112.73
Stop/Loss: $98.50
Target Price: $113.25
ZS closed at $113.50.
