We were digging through the old watchlist and found a great buy the dip opportunity with Zscaler.
Multiple cybersecurity and SaaS companies reported earnings this week.
CrowdStrike – Big Beat
Snowflake – Big Beat
Splunk – Big Loss (Lossing Market Share to Salesforce and Snowflake)
Zscaler – Big Beat
CrowdStrike, Snowflake (up 10%), and Splunk are all up huge today (Couldn’t find the exact reason why), however, Zscaler is down 3%. Zscaler is similar to Crowdstrike, where they provide cloud-based security for internet applications. Obviously, this is a business that isn’t going anywhere because of potential privacy issues online and the growing use of the internet. So, the reason we bring them up today is if you got the cash on the side, we recommend buying shares of ZS.