Zscaler shares tumbled 31% in a single day after the cloud security vendor issued conservative full-year guidance and announced a sales organization restructure. The sell-off marks the stock's worst trading day on record despite the company beating on Q3 earnings and revenue.
The market reaction underscores investor sensitivity to forward guidance in a maturing security-software market. Enterprise buyers may perceive slower deal velocity as customers consolidate vendors and negotiate longer SaaS commitments.