Zscaler (ZS) Stock Showing Momentum On US Charts

In the past session, Zscaler, Inc. (NASDAQ: ZS) shown consistency on the stock charts, climbing just 1.14% to close at $227.91. Zscaler’s stock gained momentum after receiving notable mention in an important study.

Zscaler (ZS) declared today that it has been positioned as the sole leader in the SaaS Security Posture Management segment of the Forrester Wave for Q4 2023. Zscaler not only emerged as the sole leader but also achieved the highest possible ratings in 12 categories, such as Data Protection, Scale, and Shadow-IT detection.

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The Forrester Wave is a thorough assessment of SSPM market players that takes into account factors like roadmap, community, and innovation in addition to categories like present offering, strategy, and market presence. Zscaler feels that its performance in these categories and criteria highlights its dedication to provide innovative solutions that tackle the changing needs of SaaS application security.

In addition to a comprehensive SaaS application catalog, efficient shadow IT identification, and scalable, high-performance data security, Zscaler’s SSPM solution also includes its Zero Trust Platform. According to Forrester, Zscaler’s SSPM is a fantastic option for businesses wishing to enhance network access controls to SaaS apps using SaaS Posture Management from a single provider.

ZS’s commitment to providing creative and practical SaaS security solutions is reaffirmed by its recognition as the only leader in the Forrester Wave for SaaS Security Posture Management. Zscaler will now concentrate on pushing the limits of SSPM security and creating industry-first SaaS security standards. Furthermore, Zscaler has gained attention from analyst firms as some of them have begun tracking the company this week. The stock has been monitored by Bernstein since early this year, when it issued a recommendation with an “Outpeform” rating and a price target of $311 for the share. Additionally, KeyBanc Capital Markets began recommending the stock with a “Sector Weight” recommendation.

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