Canaccord raised the firm’s price target on Zscaler to $172 from $160 and keeps a Buy rating on the shares. The firm believes Zscaler is increasingly well positioned for sustained strong growth trends given its robust technology moat and strong platform uptake. The company is benefiting from numerous tailwinds, including cloud migration, security modernization/adoption of Zero Trust principles, a distributed workforce, and the rapid growth in targeted breaches.
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Read More on ZS:
- Unusually active option classes on open August 21st
- Zscaler price target raised to $155 from $146 at JPMorgan
- Zscaler to Host Fourth Quarter and Fiscal Year 2023 Earnings Conference Call
- Zscaler COO sells $3.46M in common stock
- Zscaler call volume above normal and directionally bullish
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