From Nasdaq:

Zscaler’s ZS shares have surged 101.1% year to date, outpacing growth in the technology sector and major market indexes. The company’s strong financial performance and focus on cybersecurity solutions have driven revenue and profit growth. Earnings estimates for fiscal 2024 and 2025 have increased, reflecting its long-term growth potential.

The global cybersecurity market is projected to grow, benefiting Zscaler’s diversified portfolio of cybersecurity and networking solutions. With increasing demand for secure remote work setups, the company’s products like ZIA, ZPA and ZDX are gaining popularity. Additionally, the surge in SD-WAN solutions usage and strategic acquisitions bode well for Zscaler’s future growth.

Zscaler’s strategic positioning and partnerships with VMware and Silver Peak in the SD-WAN market position it well for growth. The company’s acquisitions, including Canonic Security and ShiftRight, have broadened its portfolio and customer base. Other top-ranked technology stocks to consider are Kanzhun BZ, Ceridian HCM CDAY, and CommVault Systems CVLT, each with a Zacks Rank #1.

Zacks has named Zscaler as one of the top 10 stocks for 2024, with an impressive growth history. Investors can access the full list of top stock picks on January 2. Additionally, Zacks offers the latest stock recommendations and analysis for the next 30 days.



Read more: Why Zscaler (ZS) is a Strong Contender for Portfolio Pick