ZS - Here's Why Zscaler Stock Is Down 13% in the First Half of 2024
2024-07-17 14:42:08 ET
Shares of Zscaler (NASDAQ: ZS) slid 13.3% in the first six months of the year, according to data provided by S&P Global Market Intelligence . The cybersecurity stock struggled as investors came to terms with the company's slowing growth rate and increased competition. Zscaler's last two quarters were generally favorable, but investors seem to be rethinking its valuation as the cybersecurity industry evolves.
Zscaler has a strong product portfolio in an exciting growth industry. Its phenomenal growth drove investors to accept an aggressive valuation, but that was unsustainable.
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Here's Why Zscaler Stock Is Down 13% in the First Half of 2024