UPDATE: Mizuho Securities Starts Zscaler (ZS) at Buy, 'Cloud Security Pioneer is Revolutionizing the Game'
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Mizuho Securities analyst Gregg Moskowitz initiates coverage on Zscaler (NASDAQ: ZS) with a Buy rating and a price target of $217.00.
The analyst comments "In our view, ZS's unique cloud proxy security architecture will enable it to thrive in an increasingly digital-enabled world. We also expect significant improvements in monetization, particularly as newer offerings (namely, ZDX and ZCP) gain traction. Despite a premium valuation, ZS is very well-positioned within cloud security, and we see healthy upside as the co. grows into its opportunity."
Shares of Zscaler closed at $185.04 yesterday.
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