- The stock price of Zscaler, Inc (NASDAQ: ZS) has received a price target increase from $175 to $225 by Truist. These are the details.
The stock price of Zscaler, Inc (NASDAQ: ZS) has received a price target increase from $175 to $225 by Truist. And Truist analyst Josh Fishbein upgraded Zscaler shares from “Hold” to a “Buy” rating.
Fishbein noted that he is feeling positive about the company’s short-, medium-, and long-term durable growth profile following recent meetings with management.
Plus Fishbein also pointed out that Zscaler is benefiting from a favorable demand backdrop after the SolarWinds (SWI) hack and secular tailwinds of digital transformation, cloud security, and Zero Trust architecture.
Fishbein told investors his conversations with customers indicated large deals will likely lead to an upside to the current consensus estimates. And Fishbein is expecting revenue to increase by up to 40% over the next few years while expanding margins, according to TheFly.
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