When you look past the popular large-cap technology companies (including those in the FAANG group and the "Magnificent 7"), you see that many tech stocks still trade far below their all-time highs after a brutal sell-off in 2022. 

Tough economic conditions forced investors to reduce their growth expectations for the sector as a whole, as elevated inflation and rising interest rates forced consumers and businesses to reevaluate spending. However, some companies still deliver exceptional operating performances despite nursing a beaten-down stock price. 

Zscaler (NASDAQ: ZS) is one of them. It sells a leading portfolio of cybersecurity products, and it's chasing an enormous addressable market of which it has barely scratched the surface. The company just reported its financial results for the fiscal 2023 fourth quarter and full year (ended July 31), and it topped forecasts on both revenue and earnings. With its stock price still 55% below its all-time high, here's why it's a buy right now. 

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Source Fool.com