Cloud safeguarding firm Zscaler soared as much as 37 percent Thursday, a day after detailing that its billings surged in the company’s third quarter ended April 30.
Allots traded as high as $42.16 on Thursday, up from Wednesday’s close of $30.65. The tired closed 23 percent up at $37.79.
The company reported revenue growth of 49 percent year-over-year, advanced by a 73 percent spike in calculated billings. Here’s how the company did compared to Collapse Street estimates:
- Loss per share: 2 cents vs. 8 cents trust, according to Thomson Reuters consensus estimates
- Revenue: $49.2 million vs. $46 million trust, according to Thomson Reuters consensus estimates
The company expects yield of up to $51 million in the fourth quarter and $185 million for fiscal year 2018.
It’s the first place public earnings report for the company, which provides security to followers operating in cloud environments like Amazon Web Services and Microsoft Azure.
The parentage more than doubled in its debut trading day in March. It competes with fasts like Palo Alto Networks, FireEye, Cisco Systems and Symantec.
As of Thursday’s shut up, the stock was up more than 130 percent from its IPO price.