That boost added to an impressive rally for owners of the digital security giant, whose stock is up by nearly 200% so far in 2020.
Investors have pushed Zscaler stock higher along with most peers in the enterprise software niche, hoping that pandemic-related changes to business processes will bring sustainably stronger growth to its business. The company cited an "immediate need" for security platforms in late May as it posted a 40% spike in sales and a 55% increase in bookings.
That May report only covered the selling period that ended in late April, and so investors will be watching its fiscal Q4 announcement, slated for Wednesday, Sept. 9, for confirmation of those positive growth trends. Most investors who follow the tech stock are projecting sales gains of around 40%, but the stock price may react more sharply to the new outlook that CEO Jay Chaudhry and his team issue for fiscal 2021.