Zscaler price target raised to $348 from $292 at JPMorgan

JPMorgan raised the firm’s price target on Zscaler (ZS) to $348 from $292 and keeps an Overweight rating on the shares after meeting with management. Management tone was bullish with commentary implying elevated demand as enterprises increasingly consider a shift toward the company’s “Firewall Free” architecture, the analyst tells investors in a research note. The firm now has greater confidence that Zscaler can sustain better growth and profitability as it leverages its platform to capture legacy network security share while expanding into the security operations and data security markets.