Shares of cyber security solutions provider Zscaler (NASDAQ:ZS) are soaring higher in the pre-market session today after the company announced an impressive third-quarter outlook.
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The company has been seeing strong customer engagements and gains from the Zscaler Zero Trust Exchange platform. For Q3, it now expects revenue to hover between $415 million and $419 million. Income from operations is anticipated between $60 million and $64 million.
In comparison, its earlier outlook was for revenue in the range of $396 million and $398 million alongside income from operations in the range of $55 million and $56 million.
For the full-year 2023, revenue is anticipated between $1,587 million and $1,591 million with income from operations around $220 million to $224 million. The updated outlook handily outstrips earlier expectations of revenue between $1,558 million and $1,563 million and income from operations in the range of $213 million and $215 million.
Further, calculated billings for the year are expected to range between $1,970 million and $1,974 million. The company is slated to announce third-quarter numbers on June 1 with the Street expecting an EPS of $0.39 on revenue of $397.44 million for the period.
Overall, the Street has a $155.46 consensus price target on ZS stock pointing to a hefty 73.78% potential upside in the stock.
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