Morgan Stanley has decided to maintain its Overweight rating of Zscaler ZS and lower its price target from $180.00 to $162.00.
Shares of Zscaler are trading down 11.44% over the last 24 hours, at $127.97 per share.
A move to $162.00 would account for a 26.59% increase from the current share price.
Zscaler is a security-as-a-service firm that offers its customers cloud-delivered solutions for protecting user devices and data. The firm leverages its position in 150 colocation data centers to deliver traditionally appliance-based security functionality, such as firewalls and sandboxes, as a completely cloud-native platform. The firm focuses on large enterprise customers and offers two primary product suites: Zscaler Internet Access, which securely connects users to externally managed application and websites (such as Salesforce and Google), and Zscaler Private Access, which securely connects users to internally managed applications. Both product suites encompass a broad gamut of capabilities situated across the traditional security stack.
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