Investors in cybersecurity company (NASDAQ: ZS) probably weren't feeling too secure over the past few days. According to data compiled by S&P Global Market Intelligence, Zscaler's stock was down by almost 19% week to date as of late Thursday evening. An uninspiring quarterly earnings report, accompanied by analyst price target cuts and even a downgrade, was largely to blame.

Zscaler published its results for the fiscal fourth quarter of 2024 after market close Tuesday, and the subsequent downbeat investor reaction set the tone for the rest of the week.

It wasn't that the company did badly in the quarter ended July 31. Rather, the opposite occurred, as its revenue grew a sturdy 30% year over year to almost $593 million, while billings rose 27% and deferred revenue increased 32%. Non-GAAP (adjusted) net income beat them all with a 39% leap to nearly $141 million. Speaking of beats, both the top- and bottom-line results were comfortably higher than the consensus analyst estimates.

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Source Fool.com