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Zscaler Inc

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Morningstar Rating for Stocks Fair Value Economic Moat Capital Allocation

Zscaler Is Tilting the Scale in the Network Security Market; Maintain $170 FVE; Shares Undervalued

We are maintaining our $170 fair value estimate, narrow economic moat rating, positive moat trend rating, high uncertainty rating, and exemplary capital allocation rating for Zscaler. We continue to have confidence in the firm’s ability to drive long-term shareholder returns as its solutions continue to benefit from the convergence of networking and security.

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