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Cybersecurity company Zscaler shares tumble on weak earnings forecast

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Yahoo Finance Live's Julie Hyman discusses Zscaler earnings and how the stock is performing.

Video Transcript

JULIE HYMAN: Almost 30 minutes into the session now, and we see stocks hanging on to gains-- except for the NASDAQ, which is now off by almost a half of 1%. Here so mixed session, as we head through it. And we're going to talk more about what's behind all of this in the next hour.

In the meantime, I do want to bring you one more mover that we are watching, and that is Zscaler. The company is plunging today. It's down by 20%. It's a security software company, and those numbers actually beat estimates-- beat most estimates-- but there's a lot of optimism baked in here, according to analysts. For example, the folks over at Deutsche Bank say after a stellar run of near flawless execution by Zscaler, the second quarter was mixed. Federal contracts haven't been closing, lack of megadeals were some of the issues that are in focus and the reason that the stock is trading a little bit off.