Why Shares of Zscaler Crashed Today
Shares of Zscaler (NASDAQ: ZS) tumbled on Wednesday after the cloud security software company reported its fiscal fourth-quarter results. While Zscaler beat expectations, the combination of lackluster guidance and a sky-high valuation led to a brutal sell-off. The stock was down a whopping 23% at 12:15 p.m. EDT.
Zscaler reported fourth-quarter revenue of $86.1 million, up 53% year over year and about $3.3 million higher than the average analyst estimate. Non-GAAP (adjusted) earning per share came in at $0.07, beating analyst expectations by $0.05.
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Source Fool.com
