Zscaler ( (ZS) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Zscaler shares came under pressure after analysts grew more cautious on the company’s outlook, flagging tighter security budgets, rising competitive pressures, and signals from a recent CISO survey and peer comparisons that demand may be moderating. In response, several Wall Street firms cut their price targets on the stock, saying that, while changes like the appointment of a new chief marketing officer are positive, they are not enough to offset growing concerns about spending trends and competition in the cybersecurity market.
More about Zscaler
YTD Price Performance: -2.05%
Average Trading Volume: 1,680,920
Technical Sentiment Signal: Sell
Current Market Cap: $35.13B
For further insights into ZS stock on TipRanks’ Stock Analysis page.
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