Zscaler Shares Fall More Than 31 Percent After Weak Outlook
Zscaler shares fell more than 31 percent in early trading after the cybersecurity firm issued a revenue forecast below analyst expectations. The drop marks the largest single-day decline in the company's history.
MarketWatchShares of Zscaler fell more than 31 percent in premarket trading after the cybersecurity company released a revenue outlook that fell short of investor expectations. The decline represents the largest one-day drop on record for the company.
Investors reacted sharply to the guidance, sending shares toward their steepest single-session loss since the firm went public. MarketWatch reported that the move blindsided many shareholders who had anticipated stronger growth projections.
Zscaler provided a downbeat revenue forecast for the coming period. The company did not immediately release additional details on the factors behind the revised outlook. MarketWatch stated that the announcement triggered the record decline.
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Zscaler shares face continued pressure in regular trading hours.
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