Zscaler’s Strategic Advancements and Acquisitions Drive Buy Rating

Needham analyst Mike Cikos maintained a Buy rating on Zscaler (ZS – Research Report) today and set a price target of $350.00.

Mike Cikos has given his Buy rating due to a combination of factors including Zscaler’s strategic advancements and acquisitions. The company’s recent Zenith event showcased its innovative approach to cybersecurity, particularly through the integration of AI to enhance its Zero Trust security framework.
Additionally, the acquisition of Red Canary is seen as a significant move that not only brings in domain expertise but also strengthens Zscaler’s position in threat management. This acquisition is expected to enhance the company’s ability to serve its customers and partners more effectively, thereby supporting its growth trajectory.

In another report released today, Barclays also maintained a Buy rating on the stock with a $290.00 price target.