Zscaler Q4 revenue $898.2M beats estimates; FY27 guidance in line

The beat on Q4 revenue and EPS is solid, but the market's focus will likely shift to the FY27 guidance, which merely matches consensus and offers no upside catalyst. This suggests management sees growth stabilizing rather than accelerating, a key point for a high-multiple security name. The real test is whether the inline outlook reflects conservatism or a genuine slowdown in cloud security demand, which could set the tone for peers reporting next. Watch for commentary on billings and customer adds to confirm the trajectory.