5 Stocks Gaining Attention After Releasing Their Earnings Reports

2. Zscaler, Inc. (NASDAQ:ZS)

Number of Hedge Fund Holders: 38

Shares of Zscaler, Inc. (NASDAQ:ZS) rose over six percent in the pre-market trading session on Wednesday, 1 December 2021, after beating expectations for its fiscal first quarter. The cloud-based information security company earned 14 cents per share on an adjusted basis, surpassing expectations of 12 cents per share.

Revenue came in at $230.5 million, ahead of analysts’ average estimate of $212 million. Zscaler, Inc. (NASDAQ:ZS) had posted adjusted earnings of 14 cents per share on revenue of $142.6 for the comparable period of 2020.

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Looking forward, Zscaler, Inc. (NASDAQ:ZS) expects adjusted earnings in the range of 50 – 52 cents per share and revenue between $1- $1.01 billion for its FY 2022.

CEO Jay Chaudhry praised the latest performance, saying:

“We delivered outstanding results for the first quarter, with year-over-year revenue growth accelerating to 62%. We recently achieved a significant milestone of surpassing $1 billion in annual recurring revenue (ARR), and are now focusing on achieving $5 billion in ARR.”