Shares of Zscaler (ZS) - Get Report fell off the ladder Monday after an analyst downgrade of the fast-growing cyber-security firm.

The stock price of Zscaler tumbled 8.31% to $74.19 after OTR Global downgraded shares of the company, which specializes in cloud-based web security, to negative from mixed.

The stock trouble comes not long after shares of Zscaler hit new heights, with the company set to report its latest quarterly earnings on Sept. 10.

Zscaler closed Friday at $80.81, having doubled in value over the previous year.

"Any recent changes to analyst estimates for ZS should also be noted by investors," Zacks Investment Research. "Recent revisions tend to reflect the latest near-term business trends.

Zscaler's stock price stumble bucked a broader rally Monday among tech stocks and comes despite some bright growth prospects. Leading Zscaler's growth has been its Zscaler Internet Access, which is designed to replace on-site web security portals with a cloud-based system, notes Investors Business Daily.

Analysts polled by Zacks expect the San Jose-based company next month to report earnings of 1 cent a share for year-over-year growth of 200%, and a quarterly revenue boost of 46.26% to $82.15 million.

"We believe we are in the early innings of a significant market opportunity to disrupt traditional network security," said Jay Chaudhry , president, CEO and chairman, in a recent conference call with investors.