The company is among the fastest-growing cybersecurity players based on my peer analysis
Zscaler 2024 AI Report 2024 AI Report ThreatLabz AI Report Reveals Enterprises Sharing 569 TB of Data to AI Tools, Stressing the Need for Better Data Security Enterprise AI/ML transactions increased from 521 million monthly in April 2023 to 3.1 billion monthly by January 2024.Manufacturing generates the most AI traffic, totaling 21% of all AI transactions in the Zscaler security cloud, followed by Finance and Insurance (20%) and Services (17%).The most popular AI/ML applications for enterprises
Zscaler (ZS) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.