BTIG upgraded Zscaler to Buy from Neutral with an $185 price target. Fieldwork indicates that demand in the secure service edge has sustainably improved and that large projects which were put on hold in late 2022 / early 2023 are starting to move forward again, the analyst tells investors in a research note. The firm is now confident in Zscaler’s ability to maintain its leadership position in the SSE market despite headlines on increasing competition. BTIG now has a “much higher degree of confidence” in the company’s ability to maintain 30%-plus revenue growth the next few years.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ZS:
- Morgan Stanley would be buying Palo Alto Networks amid this week’s selloff
- Microsoft Stock (NASDAQ:MSFT): Wall Street is Upbeat About Future Prospects
- Needham security/networking analysts hold analyst/industry conference call
- BofA says ‘don’t count out’ Zscaler, Palo Alto as Microsoft enters SSE market
- PANW, ZS, NET: Cybersecurity Stocks Threatened by Microsoft