2024 has been a bad year so far for (NASDAQ: ZS) investors as share prices of the cybersecurity specialist are down 17%. However, its fiscal 2024 third-quarter results (for the quarter ended April 30) were released on May 30 and they suggest the rest of 2024 may be better.

Zscaler's stock price climbed 8.5% the day after the company released its latest quarterly report on news that the company's revenue and earnings crushed Wall Street's expectations. More importantly, the stock has kept its foot on the gas since then (it's up 17% so far).

Let's look at the reasons this cybersecurity stock could sustain its new-found momentum.

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Source Fool.com