Why Zscaler Stock Is Sinking Today
Shares of Zscaler (NASDAQ: ZS) are losing ground in Wednesday's trading on fears that a resource-rich competitor is moving in on its turf. The cybersecurity company's share price was down 6.3% as of 1:15 p.m. ET, according to data from S&P Global Market Intelligence.
Microsoft (NASDAQ: MSFT) published a press release yesterday announcing that it will be debuting new capabilities for its Azure cloud service and moving into secure-service-edge (SSE) offerings. With the move, the software giant appears to be encroaching on Zscaler's turf.
SSE software is a core offering for Zscaler and involves a collection of cloud-based network security services. These services are broken down across three categories -- secure web gateways (SWGs), cloud access security brokers (CASBs), and zero trust network access (ZTNA) frameworks.
Source Fool.com
Zscaler Inc Stock
The stock is one of the favorites of our community with 67 Buy predictions and 1 Sell predictions.
With a target price of 205 € there is a slightly positive potential of 13.33% for Zscaler Inc compared to the current price of 180.88 €.
