Zscaler (ZS) PT Raised to $215 at Needham & Company

Needham & Company analyst Alex Henderson raised the price target on Zscaler (NASDAQ: ZS) to $215.00 (from $190.00) while maintaining a Strong Buy rating.

The analyst commented, "Zscaler's move into Cloud Workload Security is a logical and inevitable extension of its platform, as we see it. It also takes full advantage of the extensive existing ZS architecture and capabilities. Zscaler is addressing the full range of application workload to User Security, App to App within a domain, and App to App across domains. Moreover, the existing Zscaler technologies to implement policy on a user and application basis naturally fold directly into the Cloud Workload Protection platform. These are critical points. They directly relate to the breadth, scale, and ramp of the new platform opportunity. We think in 3-5 years, Cloud Workload Protection could easily be 30% of Revenue even as the core business continues to grow at a 30%-50% pace. As the resources are shared, we expect this added Revenue to drive margin expansion."

You May Also Be Interested In

• Bernstein SocGen Group Upgrades Analog Devices (ADI) to Outperform
• Target (TGT) PT Raised to $185 at DA Davidson
• Morgan Stanley Upgrades Suncor Energy (SU) to Overweight