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Is Zscaler Stock a Buy at the Current Valuation?

TheMotleyFool

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Is Zscaler Stock a Buy at the Current Valuation?

Cybersecurity threats are everywhere, and they aren't going away. One report estimates that the total cost of cybercrime to the global economy is at least 1 trillion dollars annually. With this in mind, companies need to increase their cybersecurity budgets and utilize the latest technology. The future of cybersecurity is in the cloud, and this is where Zscaler (NASDAQ: ZS) comes in.

Zscaler stock was flying high in 2021, along with most of the growth sector, until it became clear that inflation is more than transitory and that interest rate hikes are coming sooner than expected. The stock has since fallen considerably and trades at more than 20% off its 52-week high.