Barclays upgraded Zscaler to Overweight from Equal Weight with a price target of $190, up from $176. The firm is is making a “positioning call,” as it likes the growth opportunity in secure access service edge. The analyst believes SASE could be as big as network security in 2026, and views Zscaler as a leader. Barclays raised fiscal 2024 billings estimates, introduce 2026 estimates, and now anchors its valuation on estimated 2026 free cash flow.
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