For several years, (NASDAQ: ZS) was one of the market's hottest cybersecurity stocks. It went public at $16 per share on March 16, 2018, and eventually soared to an all-time high of $368.78 on Nov. 19, 2021. But today, it trades at about $175.

Like many other hypergrowth stocks, Zscaler lost its luster as its sales growth cooled off and rising rates compressed its valuations. But will its stock finally stabilize and perhaps even rally over the next 12 months?

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Source Fool.com