Posted 2/20/2024, 10:50:19 PM
Zscaler Stock Underperforms Despite Strong Growth Forecasts
- Zscaler (ZS) stock declined 1.47% despite the S&P 500 only falling 0.6%, underperforming the market
- Zscaler is expected to announce strong earnings growth of 56.76% for the quarter and 37.99% for the full year
- Revenue growth estimates are also robust at 30.71% for the quarter and 29.78% for the full year
- Zscaler currently has a Zacks Rank of #2 (Buy) and trades at a premium valuation with a high PEG ratio
- The Internet-Services industry that Zscaler belongs to ranks in the bottom 40% of Zacks Industries, underperforming the market