Zscaler price target raised to $350 from $335 at RBC Capital

RBC Capital raised the firm’s price target on Zscaler (ZS) to $350 from $335 and keeps an Outperform rating on the shares after meeting with its management team. The firm notes that the tone around fundamental drivers for Zscaler were positive, including increased customer focus on Zero Trust Everywhere, the ability to protect agent communication, increased customer interest in security operations, and data security. RBC adds that it continues to believe the market opportunity for Zscaler is larger than investors anticipate.