Why Zscaler Stock Gained 12.7% in June
Shares of Zscaler (NASDAQ: ZS) rose 12.7% in June, according to data provided by S&P Global Market Intelligence, thanks to favorable market conditions and momentum from great earnings and positive media attention in May. Zscaler's June results weren't driven by any news in the month -- investors were just bullish about enterprise software-as-a-service stocks and cybersecurity.
Zscaler provides cloud-based cybersecurity solutions that are implemented at data centers, primarily by enterprise customers. Cybersecurity was a popular topic among investors and executives in May following the Colonial Pipeline attack. Zscaler then closed out the month with its third-quarter earnings report. It smashed analyst estimates and substantially increased guidance for the full year.
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Source Fool.com
