What happened
Thursday was a fine day to be a Zscaler (ZS 1.28%) shareholder. The cloud security specialist's stock enjoyed a pleasant 1.4% bump, following the bestowing of an industry award. Although this wasn't the first time the company took home that particular accolade, investors were cheered that it's doing well enough to continue earning such recognition.
So what
This morning, Zscaler announced that it was named a leader by tech industry researcher Gartner for the latter's 2023 Magic Quadrant for Security Service Edge (SSE). This is the second year in a row Zscaler has won the designation.
The cybersecurity company said that its push into new corners of the business was a chief reason it was again tagged as a leader in the segment.
Now what
Zscaler didn't hesitate to point out that it has won other accolades from, or through, Gartner. It added that last September, it was flagged as a Customers' Choice vendor in the SSE category for 2022 by the researcher.
That designation is based on reviews from hundreds of verified Zscaler end users; all told, the company said, it earned a score of 4.6 out of a possible 5.
Zscaler could certainly use the positive press. Its share price has generally slumped since the company reported its latest set of quarterly figures in early March. While revenue grew by 52% year over year and net loss narrowed, management's guidance left something to be desired in the eyes of investors.
