GMBStaff
3 Sep 23
<p>Zscaler (NASDAQ:ZS) shares increased by 6% after strong second-quarter results and revised guidance from cybersecurity firm CrowdStrike Holdings (NASDAQ:CRWD). CrowdStrike was praised by analysts from KeyBanc Capital Markets and J.P. Morgan, with KeyBanc identifying it as a leader in endpoi...
Zscaler (NASDAQ:ZS) shares gained over 6% on Thursday as cybersecurity stocks performed well, following CrowdStrike Holdings' (NASDAQ:CRWD) strong second-quarter results and revised guidance. Analysts from KeyBanc Capital Markets and J.P. Morgan praised CrowdStrike, with KeyBanc calling it a "leader" in endpoint security and benefiting from a changing competitive landscape. J.P. Morgan cited better profitability and cash flow, while BTIG maintained its buy rating and raised its price target. Looking ahead, CrowdStrike expects strong third-quarter results with higher revenue guidance for the full year.Zscaler (ZS) saw a significant increase in its stock price after cybersecurity firm CrowdStrike (CRWD) reported better-than-expected second-quarter results and adjusted its guidance. KeyBanc Capital Markets analyst Eric Heath referred to CrowdStrike as a "leader" in the endpoint security space and mentioned the company's benefit from changes in the competitive environment, potentially referring to Microsoft (MSFT) and SentinelOne (S). J.P. Morgan analyst Brian Essex highlighted the improved profitability and cash flow of CrowdStrike, offsetting the lack of upside in its annual recurring revenue outlook. BTIG analyst Gray Powell maintained a buy rating and raised the price target for CrowdStrike, expressing confidence in the company's long-term growth prospects. As for future expectations, CrowdStrike anticipates strong third-quarter earnings and has raised the low end of its full-year revenue guidance, indicating positive momentum in the cybersecurity industry.