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Zscaler Stock Rises on Analyst Upgrade Amid Strong Cybersecurity Demand
Zscaler Stock Rises on Analyst Upgrade Amid Strong Cybersecurity Demand
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BTCCSquare news:
Zscaler shares climbed nearly 3% Thursday, outpacing the S&P 500's modest gain, after Freedom Capital Markets analyst Almas Almaganbetov upgraded the cybersecurity firm to 'buy' and raised its price target by 14% to $320. The bullish revision follows Zscaler's fiscal Q4 results, which showed 21% revenue growth and 32% billings expansion.
Almaganbetov highlighted broad-based demand across Zscaler's product suite, including its AI-enhanced solutions, as evidence of resilient enterprise spending on cybersecurity. The company's annual recurring revenue grew 22%, suggesting sustained momentum despite mixed investor reactions to the earnings report.
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