2024-03-26 21:44:46 ET
Summary
- Zscaler's stock has underperformed many cybersecurity peers in recent months, possibly due to growing SASE competition and decelerating growth.
- Despite challenging market conditions, demand for zero trust security remains strong, and Zscaler expects budget increases in 2024.
- Zscaler's valuation looks attractive, given the company's market leadership and financial profile. Growth probably needs to stabilize before this matters though.
Zscaler's ( ZS ) stock has trailed market-leading cybersecurity peers in recent months, which is somewhat difficult to understand given the company's financial performance and valuation. This dislocation could be attributed to growing SASE competition, Zscaler's continued growth deceleration or the company's ongoing losses....
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Zscaler: Unloved Market Leader