Down Nearly 30% in 2024: Is Zscaler's Stock a Buy?

Zscaler's (NASDAQ: ZS) stock price sank 19% on Sept. 4 after its latest earnings report came out. For the fourth quarter of fiscal 2024, which ended on July 31, the cybersecurity company's revenue rose 30% year over year to $593 million and exceeded analysts' expectations by $25 million. Its adjusted earnings per share (EPS) grew 38% to $0.88 and cleared the consensus forecast by $0.19.

Those headline numbers seemed healthy, but its guidance didn't impress the bulls. Let's see if this out-of-favor hypergrowth stock is still worth buying after declining nearly 30% this year.

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Source Fool.com