Zscaler (ZS) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The word "hypergrowth" does not describe the current technology bear market. Such a change may point to buying opportunities in tech stocks such as SoFi Technologies (NASDAQ: SOFI) and Zscaler (NASDAQ: ZS). Amid the moratorium on student loan payments because of the pandemic, it had to pivot into other areas of finance.
The looming possibility of a recession sent the S&P 500 and Nasdaq Composite spiraling into a bear market this year. For instance, Israel Englander of Millennium Management nearly tripled his stake in Zscaler (NASDAQ: ZS) in the third quarter, and his position has increased more than tenfold since the beginning of the year. Similarly, Steve Cohen of Point72 Asset Management nearly tripled his position in Elastic (NYSE: ESTC) since the first quarter.