The drop is part of the Wyckoff cyclesZscaler, Inc.BATS:ZSKhanhC.HoangBofA maintains a Buy rating and a $175 Price Objective for Zscaler, even with a mixed overall report. The Good (Strong Q3): Zscaler delivered a very solid third quarter. Revenue grew 25% year-over-year to $850M, margins expanded, and they saw strong demand for large deals, public sector contracts, and their newer AI security products. The Bad (Weak Guidance): The forward-looking guidance overshadowed the strong quarter. Their Q4 and early FY27 revenue outlooks were well below consensus expectations, signaling a sharp slowdown (which management partly blamed on some renewals happening earlier than expected). The Takeaway: The analysts are looking past the weak guidance to focus on the long-term positives: improving revenue quality, a shift toward higher-value usage platforms, and strong operating discipline.