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Cybersecurity is the main concern of global family offices.
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Zscaler
it was rising on Friday after the software security company posted quarterly earnings that exceeded analysts ’forecasts and released a forecast for the current quarter’s revenue ahead of estimates.
Shares rose 0.82% to $ 282.51. This year it has gained 41% and almost 120% in the last twelve months.
He called Wedbush analyst Dan Ives
Zscaler
The report “another quarter”, adding that “in our opinion, ZS is the best pure game in the field of cloud security.”
Zscaler (ticker: ZS) reported adjusted fourth-quarter earnings of 14 cents per share on revenue of $ 197.1 million. A year earlier, the cybersecurity company reported an adjusted profit of 8 cents per share on revenue of $ 125.9 million.
Turnover for the quarter, a metric closely monitored by analysts, rose 70% to $ 332.2 million.
Analysts had demanded earnings of 9 cents per share on revenue of $ 186.8 million. Turnovers were projected at $ 278.1 million.
Zscaler said he expects first-quarter tax revenue of $ 210 million to $ 212 million, above forecasts of about $ 200 million. The company expects adjusted earnings of 12 cents per share, according to estimates.
For Prosecutor 2022, Zscaler said he expects revenues of $ 940 million to $ 950 million and turnovers of $ 1.232 billion to $ 1.252 billion.
RBC analysts raised their Zscaler share price target to $ 326 from $ 300 and maintained its top rating.
“Zscaler delivered another impressive quarter with minimal year-on-year turnovers and a slowdown in revenue in the face of tough competition, as all results were well above expectations,” analysts said. “The initial revenue / billing guidelines for fiscal year 22 exceeded expectations, but should be conservative based on the company’s recent execution and land efficiency and expand the movement.”
“In our opinion, ZS is the best pure game in the field of cloud security, which we believe is still in the early stages of takeoff with general hybrid cloud workloads about to accelerate significantly over the next few years and in this climate one could see a bit of strategic offerings advancing as the shift to the cloud outside the firewall is catalyzing a handful of key sales cycles, ”Ives wrote in a note to customers.
Wedbush maintained its rating above the target and the target price of $ 320.
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