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Zscaler (ZS) Stock Sinks As Market Gains: What You Should Know

Zacks Equity Research
·2-min read

In the latest trading session, Zscaler (ZS) closed at $132.49, marking a -0.07% move from the previous day. This change lagged the S&P 500's 0.36% gain on the day. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.35%.

Wall Street will be looking for positivity from ZS as it approaches its next earnings report date. The company is expected to report EPS of $0.03, down 57.14% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $118.11 million, up 37.16% from the year-ago period.

Investors should also note any recent changes to analyst estimates for ZS. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

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The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.66% higher within the past month. ZS is holding a Zacks Rank of #2 (Buy) right now.

Valuation is also important, so investors should note that ZS has a Forward P/E ratio of 479.93 right now. For comparison, its industry has an average Forward P/E of 33.7, which means ZS is trading at a premium to the group.

The Internet - Services industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 115, putting it in the top 46% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow ZS in the coming trading sessions, be sure to utilize Zacks.com.


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