Zscaler tumbles 31% for its worst day ever on 'prudent' guidance
Shares of cybersecurity firm Zscaler fell about 31% in their worst day ever after the company issued a disappointing revenue outlook it called 'prudent' and announced a sales-team shakeup. The stock has lost roughly half its value over the past year.
Shares of cybersecurity company Zscaler dropped about 31% after it issued a weaker-than-expected revenue outlook, marking its sharpest one-day decline since its market debut.
The company described its outlook as 'prudent' and said it was reshuffling its sales organization. According to CNBC, the stock has shed roughly half its value over the past year.
Analysts said competition in the cloud-security market and cautious customer spending are weighing on the firm. This article is not investment advice; figures are based on company disclosures.
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