Why Zscaler Stock Raced 3% Higher on Friday
A white-shoe investment bank flagged (NASDAQ: ZS) as a prominent name in the cybersecurity space on Friday, and investors reacted accordingly. They traded the stock up by more than 3%, which was a notably better performance than the 0.3% decline of the S 500 index on the day. The shares are up another 3% in pre-market trading on Monday morning at 6:16 am.
Morgan Stanley was the entity behind the boost. In a new analyst report, the company identified three prominent cybersecurity stocks as being particularly noteworthy. Zscaler was No. 1, accompanied by Palo Alto Networks and Microsoft.
Morgan Stanley wrote in the report that in a recent survey it conducted, Zscaler had gained the most market share by far, out of any security access service edge (SASE) specialist. That momentum is set to build, as most survey respondents indicated heavier SASE demand over the coming one-year period. The investment bank is also anticipating higher take-up from public-sector clients, with deals in the eight-figure range.
Source Fool.com
Zscaler Inc Stock
The stock is an absolute favorite of our community with 82 Buy predictions and no Sell predictions.
On the other hand, the target price of 264 € is below the current price of 264.1 € for Zscaler Inc, so the potential is actually -0.04%.
