Piper Sandler upgraded Zscaler to Overweight from Neutral with a price target of $190, up from $160. The analyst believes the company will continue to benefit from strong trends in security spending and network transformation momentum. With SASE in early stages of adoption and Zscaler remaining a top beneficiary of further adoption, the company’s core growth driver should remain durable over the coming years, the analyst tells investors in a research note. Piper says strong growth prospects coupled with ramping margins adds to the compelling setup for Zscaler in Q4 and the coming year.
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