异动解读｜Zscaler盘中下跌6.23%，财报超预期但增长指引放缓引发利好兑现抛压

行情直击09-04

9月4日，Zscaler盘中下跌6.23%，报166.705美元/股，成交额1.41亿美元。公司此前发布的第四财季业绩全面超预期，调整后每股收益1.19美元，高于市场预期的1.09美元，营收同比增长约25%，盘后一度大涨逾12%至200美元上方，但随后涨幅迅速回吐。

市场核心担忧在于下一财年增长指引明显放缓：全年营收增速指引约16.6%-17.5%，ARR增速降至16.6%-17.4%，远低于上一财年25%的水平。尽管RBC、Needham等多家机构上调目标价至210-215美元区间并维持看多评级，但指引隐含的增速下台阶令市场呈现典型"利好兑现"走势。同板块CrowdStrike、Palo Alto Networks等亦偏弱，网络安全板块整体承压。

（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

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