Zscaler (ZS) PT Lowered to $150 at Wedbush
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Zscaler (ZS) plunges despite beat-and-raise results; analysts see weakness in billings
March 3, 2023 7:19 AM ESTShares of Zscaler (NASDAQ: ZS) are down over 12% in pre-market Friday despite the cybersecurity company reporting stronger-than-expected results for its fiscal second quarter.
Zscaler posted FQ2 EPS of $0.37 on revenue of $387.6 million, beating the consensus for earnings of $0.29 per share on revenue of $365.53M. While revenue increased 52% year-over-year, deferred revenue jumped 46% to $1.11 billion, missing the $1.13B estimate.
Billings rose 34% to $493.8M above the average analyst estimate of $491.2M.
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