Zscaler falls; analysts flag lack of Red Canary guidance

Shares of cloud security firm Zscaler ZS.O fall 6.9% to $269.8 premarket

Co on Tuesday raised its full-year revenue forecast to range of $3.28 billion to $3.30 billion from $3.27 billion to $3.28 billion

Analysts say lack of guidance on cybersecurity co Red Canary raises questions about growth
Co acquired Red Canary to speed up AI-driven security innovation

At least three brokerages cut PT on ZS following results, according to LSEG data

Co also beat Q1 estimates on revenue and profit, driven by strong demand for cloud and AI security solution

38 of 48 brokerages rate stock "buy" or higher, 10 "hold"; their median PT is $335 - data compiled by LSEG

As of last close, stock up 60.59% YTD