BUZZ-Zscaler falls after forecasting weak Q4 revenue amid stiff competition

Zscaler

Zscaler

ZS

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** Shares of cloud security firm Zscaler ZS.O down ~18% at $151.70 after the bell

** Co forecast quarterly revenue below estimates, signaling rising competition in the cybersecurity market as enterprises scrutinize spending on cloud security products

** Expects Q4 revenue in the range of $875 million to $878 million, below estimates of $878.6 million, according to data compiled by LSEG

** Sees quarterly adjusted profit between $1.08 and $1.09 per share, versus estimates of $1.03 apiece

** Up to last close, stock down nearly 18% YTD


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