Group 1 - Okta's stock dropped 12% after the company provided cautious earnings guidance, which was perceived as a result of "overly high expectations" from investors [1] - Morgan Stanley maintained an "overweight" rating on Okta with a target price of $123, noting that while Q1 metrics exceeded expectations, the guidance for Q2 and fiscal year 2026 was less optimistic due to macro uncertainties [2] - Wells Fargo reiterated a "hold" rating with a target price of $110, citing a solid Q1 performance but a conservative Q2 guidance that fell short of market expectations [3] Group 2 - Jefferies maintained a "hold" rating but lowered the target price from $135 to $130, indicating that while Okta's remaining performance obligations (cRPO) grew 14% year-over-year, it did not meet the high expectations of investors [4] - Analysts noted that Okta's Q2 cRPO guidance was 1% below market expectations and unexpectedly suggested a potential sequential decline for the first time since the company's IPO [4] - On a positive note, Okta's profit margins exceeded expectations, and the company raised its fiscal year 2026 free cash flow guidance to approximately 27% [4]

Group 1 - Okta, a cloud security company, saw its stock drop over 12% in pre-market trading due to disappointing earnings guidance [1]

Core Viewpoint - Zscaler, Inc. will host an innovations briefing for investors on June 3, 2025, during its Zenith Live 2025 event in Las Vegas, Nevada [1][2]. Group 1: Event Details - The innovations briefing is scheduled to start at 11:30 a.m. PT and conclude before 2:00 p.m. PT [2]. - A live webcast and replay of the briefing will be available on the Investor Relations section of the Zscaler website [2]. Group 2: Company Overview - Zscaler is a leader in cloud security, focusing on accelerating digital transformation for customers to enhance agility, efficiency, resilience, and security [3]. - The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications globally [3]. - The platform is distributed across more than 150 data centers worldwide, making it the largest in-line cloud security platform based on SASE [3].

Core Insights - Zscaler, Inc. has appointed Raj Judge as Executive Vice President of Corporate Strategy and Ventures, aiming to drive the company's growth strategy towards achieving $5 billion in Annual Recurring Revenue (ARR) and beyond [1][3] Company Overview - Zscaler is a leader in cloud security, providing a Zero Trust Exchange that protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications globally [5] Leadership Appointment - Raj Judge brings over 25 years of experience in the tech legal and venture capital sectors, having previously served as Senior Partner and Co-Chair at Wilson Sonsini [2] - Judge's expertise in corporate strategy and investment is expected to significantly impact Zscaler's growth and innovation agenda [3] - The appointment reflects Zscaler's commitment to advancing its corporate strategy and long-term vision [3] Strategic Goals - Judge will focus on key growth and investment opportunities, working closely with stakeholders to accelerate innovation and broaden Zscaler's platform for its customers [3][4]

Core Viewpoint - Zscaler, Inc. is set to release its third quarter fiscal year 2025 earnings on May 29, 2025, after market close, followed by an investor conference call to discuss the results [1]. Group 1: Earnings Release Details - The earnings report will be released after the market closes on Thursday, May 29, 2025 [1]. - An investor conference call is scheduled for 1:30 p.m. Pacific time (4:30 p.m. Eastern time) on the same day [1][2]. - A live webcast of the conference call will be available on the Zscaler website [2]. Group 2: Company Overview - Zscaler is a leader in cloud security, facilitating digital transformation for customers to enhance agility, efficiency, resilience, and security [3]. - The Zscaler Zero Trust Exchange™ platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications globally [3]. - The platform is distributed across more than 150 data centers worldwide, making it the largest in-line cloud security platform based on SASE [3].

Qualys Enterprise TruRisk Platform - Qualys is transforming its focus to deliver desired business outcomes leveraging risk analytics with the Qualys Enterprise TruRisk Platform[10, 12] - The Qualys Enterprise TruRisk Platform offers comprehensive risk reduction by eliminating cyber risk, saving time, reducing MTTR, and consolidating the IT-security stack[20, 21] - The platform provides one view across the entire global hybrid-IT environment, allowing customers to consolidate their stack for better security outcomes, with no hardware to buy or manage[31] Market Opportunity and Customer Base - Qualys estimates its current total addressable market at $55 billion in CY2025E, expanding to $79 billion in CY2028E[35] - Qualys has a blue-chip global customer base of over 10,000 subscription customers[37] - 72% of the Forbes Global 50, 55% of the Forbes Global 500, and 33% of the Forbes Global 2000 are Qualys' subscription customers[37] Financial Performance - Qualys' 2024 revenues reached $608 million, with an adjusted EBITDA of $283 million, representing a 47% adjusted EBITDA margin[45] - The company's Q1 2025 revenues were $160 million, with an adjusted EBITDA of $75 million, maintaining a 47% adjusted EBITDA margin[45] - Qualys generated $232 million in free cash flow in 2024[50] - The company's adjusted EBITDA margin of 47% in 2024 is higher than the peer median of 25% for select security and SaaS companies[53]

Group 1: Economic Indicators - Pre-market indexes are showing a decline after recent gains, with the Dow down 45 points, S&P 500 down 10 points, Nasdaq down approximately 65 points, and Russell 2000 down 8 points [1] - Housing Starts increased by 11.2% to 1.50 million annualized units, surpassing expectations of 1.38 million and the revised January figure of 1.35 million [3][4] - Building Permits slightly exceeded estimates at 1.456 million, down 1.2% from the revised 1.7 million in the previous month [5] Group 2: Housing Market Insights - Single-family units rose by 11% while multi-family units increased by 12%, indicating a balanced growth, although both categories are still down year-over-year [4] - Homebuilder Sentiment fell to its lowest level in 7 months, contrasting with the positive housing starts data [4] Group 3: Trade and Tariffs - Import Price Index rose by 0.4%, matching the previous month's increase, with year-over-year imports up by 2.0% [6] - Exports increased by 0.1%, reversing an expected decline of 0.1%, following a strong January performance of 1.3% [7] Group 4: Corporate Developments - Google parent Alphabet announced its largest acquisition of cloud security firm Wiz for $32 billion in cash, aiming to enhance its cloud security platform [2] - NVIDIA CEO Jensen Huang is set to deliver a keynote address at the GPU Technology Conference, amidst a year-to-date decline of 11% in NVIDIA shares [8]

Company Acquisition - Google parent Alphabet is acquiring cloud security firm Wiz for $32 billion in cash, marking its largest acquisition to date [2] - The acquisition is expected to enhance Google's cloud security platform and may trigger further corporate buyouts in the industry [2] Housing Market Insights - Housing Starts increased by 11.2% to 1.50 million annualized units in February, surpassing expectations of 1.38 million [3] - Single-family units rose by 11% and multi-family units by 12%, although both categories remain down year-over-year [4] - Building Permits slightly exceeded estimates at 1.456 million, but were down 1.2% from the previous month [5] Trade Data - The Import Price Index rose by 0.4% in February, matching the previous month's increase and marking the highest levels since April 2024 [6] - Exports increased by 0.1% in February, reversing an expected decline, with a year-over-year growth of 2.1% [7] NVIDIA Developments - NVIDIA CEO Jensen Huang is set to deliver a keynote address at the GPU Technology Conference, addressing expectations for AI development [9] - NVIDIA shares have decreased by 11% year-to-date after experiencing a significant increase of over 2200% in the past five years [9]

Core Insights - Google has signed a definitive agreement to acquire Wiz, a cloud security startup, for $32 billion in an all-cash deal, aiming to enhance customer security and reduce costs [1] - Previously, Wiz declined a $23 billion acquisition offer from Google, opting instead to pursue an initial public offering (IPO) [2] - Wiz had set goals for an IPO and achieving $1 billion in annual recurring revenue prior to the renewed acquisition discussions with Google [3]