Shrenik Kothari, an analyst from Robert W. Baird, maintained the Buy rating on Zscaler (ZS – Research Report). The associated price target remains the same with $315.00.
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Shrenik Kothari has given his Buy rating due to a combination of factors that highlight Zscaler’s strong position despite recent leadership changes. The departure of the Chief Technology Officer, Syam Nair, was announced, but Kothari views this transition as manageable and not detrimental to the company’s overall thesis. Zscaler has been proactive in strengthening its technical and product leadership, which minimizes the risk associated with key personnel changes.
Furthermore, the recent addition of Adam Geller as Chief Product Officer, with his extensive experience in cybersecurity and product leadership, complements the existing team and supports Zscaler’s strategic initiatives in AI-driven security and Zero Trust. The company’s valuation remains attractive, trading below its high-growth peers, and field checks indicate improving go-to-market productivity and strong federal business performance. These factors, combined with a robust pipeline and solid C-suite depth, underpin Kothari’s confidence in Zscaler’s continued growth and success.
According to TipRanks, Kothari is a top 100 analyst with an average return of 26.4% and a 74.79% success rate. Kothari covers the Technology sector, focusing on stocks such as Tenable Holdings, CyberArk Software, and Okta.
In another report released on June 17, Citizens JMP also reiterated a Buy rating on the stock with a $310.00 price target.