Zscaler rises after announcing partnership deal with Singtel Singapore

Shares of cloud security firm Zscaler ZS.O rises 4.4% to $155 after announcing a partnership agreement with Singtel Singapore

ZS on track for the second straight session of gains

ZS signed an MoU with Singel Singapore to make Zscaler available to enterprises across Southeast Asia, according to a statement on Tuesday

"Momentum in the region underscores the urgency: the SEA IoT market is projected to grow at a CAGR of ~20–23% through 2030, fueling rapid expansion of connected environments that need stronger, more scalable security controls," the statement says

Among 50 analysts covering ZS, avg rating is "BUY" and median PT is $225, per data compiled by LSEG

ZS is down 30.9% YTD vs NASDAQ Composite Index's .IXIC 3% decrease