Zscaler price target raised to $250 from $230 at Oppenheimer

Oppenheimer raised the firm’s price target on Zscaler (ZS) to $250 from $230 and keeps an Outperform rating on the shares. The firm notes Zscaler reported solid Q1 results ahead of consensus estimates, supported by growing customer demand for emerging products and large-customer activity. The solid results reinforce Oppenheimer’s confidence that ZScaler is positioned for a solid second half of 2025 recovery and can build on the momentum in FY26 as the sales motion matures and emerging products drive expansion. That said, investors could still take a wait-and-see approach given the unchanged guidance for the rest of FY25 and the added uncertainty from the CFO transition, the firm adds. Oppenheimer would buy on the weakness.