Josh Brown Says Zscaler (ZS) 'Dominant' Cybersec Stock for 'Years to Come'

Joshua Brown is co-founder and CEO of Ritholtz Wealth Management, said in a latest program on CNBC that Zscaler, Inc (NASDAQ:ZS) is among his top cybersecurity stock picks. Here is how he explained his bull case for the stock:

“On my best stocks in the market list, we talked about Zcaler a couple of weeks back. Stock still looks phenomenal. It's hanging high right by 52-week highs right now. And of course, the name that I own that I think is the dominant player in the space for years to come.”

Artisan Mid Cap Fund made the following comment about Zscaler, Inc. (NASDAQ:ZS) in its Q3 2023 investor letter:

“Notable trims in the quarter included Zscaler, Inc. (NASDAQ:ZS), BioNTech and Ingersoll Rand. Zscaler provides cloud-based Internet security solutions. In the quarter, it announced solid financial results including 43% revenue growth and 38% growth in billings, which were both ahead of expectations. We believe the dual trends of rising security vulnerability and increased enterprise digitization will lead to sustained demand, even in a recession. Cybersecurity remains a top concern for businesses and governments as cyberattacks can have devastating financial and reputational consequences. Meanwhile, managing the security needs of legacy on-premise applications, a growing number of cloud-based applications (e.g., Office 365 and Salesforce) and more remote workers than before the pandemic make operating IT infrastructures increasingly complex. The stock has been a top performer this year, and we decided to trim the position based on valuation considerations.”

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Disclosure: None. This article is originally published at Insider Monkey.