Zscaler shares fall sharply on weaker-than-expected growth forecast

Zscaler Inc. (NASDAQ:ZS) shares fell more than 31% on Wednesday after the cloud security company shared softer-than-expected forward guidance, drawing attention from a modest fiscal third quarter earnings beat. For the fiscal fourth quarter, Zscaler projected revenue of $875 million to $878 million, slightly below consensus expectations of $879 million.