Zscaler price target lowered to $210 from $290 at Citizens

Citizens lowered the firm’s price target on Zscaler (ZS) to $210 from $290 and keeps an Outperform rating on the shares. Ahead of Q1 earnings, growing concern around frontier AI-driven cyber risks has contributed to a sharp re-rating in cybersecurity valuations despite continued demand for zero-trust and SASE solutions, as highlighted by emerging model behavior risks and updated industry data pointing to ongoing security needs, the analyst tells investors in a research note.