Zscaler price target raised to $250 from $230 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Zscaler (ZS) to $250 from $230 and keeps an Outperform rating on the shares. The company reported strong results with outperformance across the board, while management commentary seemed bullish around the demand environment, improved G2M focus, increased sales capacity and productivity as well as a larger deal pipeline, the analyst tells investors in a research note. Upside opportunities should come from what management noted as “Zero Trust Everywhere”, improved sales productivity, and AI adoption, RBC adds.