Zscaler price target raised to $170 from $160 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on Zscaler to $170 from $160 and keeps a Neutral rating on the shares. The firm has increased conviction following Zscaler’s beat and raise to finish FY23, the analyst tells investors in a research note. Zscaler’s pioneering vision in the Zero Trust & Secure Service Edge markets is positioning the company to benefit from the rapid secular adoption wave on the long-term path to tackling the greater ambition of reaching $5B in ARR, the firm argues.