Robert W. Baird analyst Shrenik Kothari has maintained their bullish stance on ZS stock, giving a Buy rating yesterday.
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Shrenik Kothari has given his Buy rating due to a combination of factors that suggest Zscaler is well-positioned for growth. Despite facing a challenging first quarter comparison for fiscal year 2026, Kothari sees potential for Zscaler to exceed estimates, driven by strong execution and stable momentum in federal markets. The company’s adoption of Z-Flex is expected to enhance its pipeline, contributing to a favorable setup for the fiscal year.
Additionally, Zscaler’s valuation appears attractive, trading at a reasonable multiple compared to its growth peers, which leaves room for upside. The company’s strategic initiatives, including its focus on AI and security use-cases, are reframing Zscaler as a foundational enterprise solution rather than a simple product. This, coupled with strong partner feedback and the potential for high-quality strategic wins, supports the Buy rating as Zscaler continues to consolidate its position in network and cloud security.
Kothari covers the Technology sector, focusing on stocks such as Elastic, JFrog, and Okta. According to TipRanks, Kothari has an average return of 23.2% and a 66.54% success rate on recommended stocks.
In another report released yesterday, TD Cowen also reiterated a Buy rating on the stock with a $330.00 price target.