Wells Fargo analyst Richard Poland raised the price target on Zscaler (NASDAQ: ZS) to $215.00 (from $210.00) while maintaining a Overweight rating.

The analyst comments "Raising estimates: We're raising our FY27/FY28 revs estimates 0.6%/0.9% and changing FCF estimates by 0.4%/-1.0%. Valuation/PT change: Shares are trading at 28x EV/FCF on our NTM estimates in after- hours trading, a discount to peers on cash flow that is temporarily burdened by spikes in component costs/shortages. At these levels, despite competition concerns, risk/reward looks positively skewed. Our price target of $215 is based on ~28x EV/FCF on our forward NTM estimates."