Barclays Upgrades Zscaler (ZS) to Overweight, 'We Like the Secular Growth'

Barclays analyst Saket Kalia upgraded Zscaler (NASDAQ: ZS) from Equalweight to Overweight with a price target of $190.00 (from $176.00).

The analyst comments "We upgrade Zscaler (ZS) to Overweight from Equal Weight – this is a positioning call, as we like the growth opportunity in SASE, which could be as big as network security in CY26, and we think ZS is a leader. We raise our FY24E billings, introduce FY26 estimates, and now anchor our valuation on FY26E FCF."

For an analyst ratings summary and ratings history on Zscaler click here. For more ratings news on Zscaler click here.

Shares of Zscaler closed at $163.59 yesterday.

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