Scotiabank starts ‘core growth holding’ Zscaler at Outperform

As previously reported, Scotiabank analyst Patrick Colville initiated coverage of Zscaler with an Outperform rating and $115 price target. He sees no signs of security service edge saturation and views Zscaler as "a secular winner" with demand remaining elevated and strong operating metrics, said Colville. The market has underappreciated how Zscaler’s TCO saving message is a major positive for customers, argues Colville, who views the stock as "a core growth holding."