Cloud-based cybersecurity company Zscaler (NASDAQ: ZS) continues to exceed all revenue growth expectations. The upstart security software provider just wrapped up its fiscal 2023 (which ended in July) and once again knocked it out of the park. Full-year sales were $1.62 billion, up 48% compared to 2022, well above management's guidance for as much as $1.59 billion provided just a few months ago.

Zscaler stock has been in rally mode -- up over 40% so far in calendar 2023 -- but is still down nearly 60% from its all-time peak in late 2021. With a new Zscaler fiscal year starting, is it time to buy the stock?

Zscaler's revenue growth has been impressive. In addition to its great 2023 closeout, its guidance for fiscal 2024 is for revenue of as much as $2.065 billion, implying growth of 28% over 2023. Zscaler has a habit of sandbagging, often exceeding its own guidance and raising the bar during each quarterly update. So perhaps the company can do this again in fiscal 2024.

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Source Fool.com