Zscaler price target raised to $315 from $304 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Zscaler (ZS) to $315 from $304 and keeps an Outperform rating on the shares. The company’s ZenithLive25 did not provide a financial update, but the firm’s key takeaways were the introduction of new solutions to extend Zero Trust, more color around the acquisition of Red Canary and an update around go-to-market activities, the analyst tells investors in a research note. RBC add that the event did a good job in reinforcing the multi-product platform, increasing productivity, and opportunity in agentic operations for Zscaler.