2023-07-13 17:24:00 ET
Shares of Zscaler (NASDAQ: ZS) were up 30.7% during the first six months of 2023, according to S&P Global Market Intelligence . The cybersecurity stock's June earnings report beat expectations, causing investors to revise their forecasts. Increased risk appetite also lifted growth stocks, and that translated to gains for Zscaler and some of its peers.
Zscaler enjoyed big gains in January thanks to optimism about economic recovery, but it gave them all back after its March earnings report. Despite topping analyst estimates to report a huge revenue growth and free cash flow figures, investors were concerned about the company's forward-looking guidance. High-growth, high-valuation stocks are highly sensitive to even lukewarm news.
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Here's Why Zscaler Stock Rose 31% in the First Half of 2023