This stock is a highly-valued issue compared to its peers, trading at 98X this year's earnings and 75X next year's earnings outlook. Blue-chip peer Palo Alto Networks NASDAQ: PANW still produces high-double-digit growth and trades at half that valuation, albeit high relative to the broad market. In this light, it is no wonder that Zscaler shares are under pressure because the growth is slowing significantly and may slow to low-double-digits before it accelerates. The Q2 revenue and earnings were above consensus but only by a small margin. The $387.6 million is up 51.7% compared to last year but was mostly expected, and the guidance is what counts.