Zscaler Stock Is Cratering: Should You Buy the Dip?
Whether we realize it or not, we interact with cybersecurity protocols nearly every day. Corporations are increasingly requiring multifactor authorization on company-issued devices in an effort to thwart potential hacks. Additionally, banks and other businesses in the financial arena now often text or email customers unique numerical codes each time they want to access their accounts that they must enter in addition to their passwords in order to do so.
The use cases for cybersecurity seem to only be growing. It's not surprising that companies of all sizes are pursuing these end markets. Although giants like Microsoft and Alphabet have made major investments in their cybersecurity offerings over the last few years, smaller companies like CrowdStrike and Zscaler (NASDAQ: ZS) in particular have gained noticeable momentum in the marketplace.
Early this month, Zscaler reported results for its fiscal 2023 second quarter. Let's dig in and analyze those results, as well as the overall health of the business, and see if Zscaler stock has entered oversold territory.
Source Fool.com
