Zscaler Revenue Grows Amid Positive Software Market Outlook
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 05 2024
0mins
Should l Buy ZS?
Source: SeekingAlpha
Zscaler Inc. saw its stock rise by 6.42% as it reached a 5-day high during regular trading.
The increase in Zscaler's stock price is attributed to a broader positive sentiment in the software sector, following Atlassian's announcement of an increased annual revenue outlook, which has boosted investor confidence across U.S. software stocks.
This upward movement reflects the overall strength in the software market, suggesting that Zscaler is benefiting from the favorable conditions and investor optimism.
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Analyst Views on ZS
Wall Street analysts forecast ZS stock price to rise
30 Analyst Rating
24 Buy
6 Hold
0 Sell
Strong Buy
Current: 152.430
Low
260.00
Averages
325.62
High
390.00
Current: 152.430
Low
260.00
Averages
325.62
High
390.00
About ZS
Zscaler, Inc. is a cloud security company. The Company has developed a platform incorporating core security functionalities needed to enable fast and secure access to cloud resources based on identity, context and an organization’s policies. Its Zscaler Zero Trust Exchange platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Its solution is a purpose-built, multi-tenant, distributed cloud platform that incorporates the security functionality needed to enable users, applications, and devices to safely and efficiently utilize authorized applications and services based on an organization’s business policies. It delivers its solutions using a software-as-a-service (SaaS) business model and sells subscriptions to customers to access its cloud platform, together with related support services. It offers a security platform that combines its platform with automated security operations.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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