TD Cowen raised the firm’s price target on Zscaler (ZS) to $300 from $270 and keeps a Buy rating on the shares. The firm updated its model as the company’s results exceeded F3Q metrics across the board and upped its F4Q. The company is seeing no macro slowdown, its platform approach resonates well with large customers, its pricing scheme (z flex) is positively embraced by customers wishing to expand business with Zscaler, and the acquisition of Red Canary provides an extension into the SOC accelerating agentic AI adoption.
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