The most recent trading session ended with Zscaler (ZS) standing at $183.93, reflecting a +1.61% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.22%. Elsewhere, the Dow lost 0.33%, while the tech-heavy Nasdaq added 0.76%.

Coming into today, shares of the cloud-based information security provider had gained 5.39% in the past month. In that same time, the Computer and Technology sector gained 2.29%, while the S&P 500 gained 1.47%.

The investment community will be closely monitoring the performance of Zscaler in its forthcoming earnings report. The company is forecasted to report an EPS of $0.63, showcasing a 5.97% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $605.68 million, up 21.94% from the year-ago period.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.87 per share and revenue of $2.61 billion, indicating changes of -10.03% and +20.57%, respectively, compared to the previous year.

Any recent changes to analyst estimates for Zscaler should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 2.92% lower. As of now, Zscaler holds a Zacks Rank of #4 (Sell).

From a valuation perspective, Zscaler is currently exchanging hands at a Forward P/E ratio of 63.05. This represents a premium compared to its industry's average Forward P/E of 35.45.

Meanwhile, ZS's PEG ratio is currently 8.24. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Services was holding an average PEG ratio of 2.26 at yesterday's closing price.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 63, which puts it in the top 25% of all 250+ industries.