Zscaler Stock Sinks on Guidance. Time to Buy the Dip?
Shares of (NASDAQ: ZS) sank after the cybersecurity company issued disappointing guidance in conjunction with its fiscal 2024 fourth-quarter results this week. The stock now trades down nearly 27% so far this year.
Disappointing guidance often triggers the market to sell a stock, but was this selloff an overreaction? If it was, is now a good opportunity to buy the stock on the dip?
In its fiscal fourth quarter (ended July 31), Zscaler grew its revenue by 30% year over year to $592.9 million. That was well ahead of its earlier outlook for revenue of between $565 million and $567 million.
Source Fool.com
Zscaler Inc Stock
€141.44
-2.740%
The stock is one of the favorites of our community with 72 Buy predictions and 1 Sell predictions.
With a target price of 207 € there is a positive potential of 46.35% for Zscaler Inc compared to the current price of 141.44 €.
