Zscaler became the best-performing U.S. technology IPO of the year, after it announced revenue growth that analysts noted was well ahead of estimates, according to Bloomberg.
The stock jumped as much as 38 percent in trading, bringing performance since its initial public offering in March to about 164 percent. The latest rally made it the best performing tech IPO in the U.S. this year, topping the previous leader, HUYA, a Chinese live-stream platform. This year’s U.S. tech and communications IPOs have returned 56% on average.
The technology security company easily scaled Wall Street’s expectations in its first earnings report as a public company. It posted $49.2 million in revenue in the third quarter, beating even the most bullish analyst estimates. The firm also cited “strong“ billings growth, which rose 73 percent.
After the earnings report, analysts brightened their outlook. The average price target for Zscaler rose to $32 from $29 a week ago. Still, some analysts cautioned against unbridled enthusiasm. Even the most bullish on the Street may have been surprised. Shares blew through even the highest price targets as shares rose to new records.
When the largest amusement park in Germany, Europa-Park, began constructing its new Croatia area, it found inspiration in Rimac hypercars and technology for its new rollercoaster – the Voltron Nevera Powered by Rimac.
Following the end of the public delisting acquisition offer for Telefónica Deutschland, Telefónica holds approximately 96.85% of the shares in its German subsidiary.
Infobip Shift Miami, the American version of the Croatian developer conference, this week brought together a diverse technology-sector audience on the shores of Florida.
