Zscaler Inc. (ZS:NSD) STA Research raises target to $130

Stock Market Update for March 27th, 2024

Analyst Ratings Coverage

STA Research (Rank#88) issued a research report on Monday May 8th, lifted the 12-month price target for Zscaler’s stock to $130 from $115, while maintaining the “Buy” rating.

Zscaler provides cloud-based security solutions to companies, enabling them to secure their networks and applications from cyber threats such as malware, phishing attacks, and other cyberattacks. The company has been gaining traction in the industry, with its revenue growing at a rate of over 50% year-over-year in the last quarter. This growth can be attributed to the company’s innovative approach to cybersecurity and its ability to provide cost-effective solutions to its clients.

STA Research’s decision to raise the price target for Zscaler’s stock is based on the company’s strong financial performance, its expanding customer base, and its ability to sustain its growth in the long run. The research firm also noted that Zscaler’s strong partnerships with leading cloud providers such as Microsoft Azure and Amazon Web Services, coupled with its expanding product portfolio, make it well-positioned to capture a significant share of the cybersecurity market.

Zscaler’s recent acquisition of Cloudneeti, a cloud security posture management (CSPM) company, is expected to further boost the company’s capabilities and expand its reach in the cloud security market. With the increasing adoption of cloud-based services by businesses, there is a growing need for effective cloud security solutions, and Zscaler is well-positioned to meet this demand.

The work from home model has also accelerated the shift towards remote work, which has increased the demand for cloud-based security solutions. Zscaler’s cloud-based approach to security is particularly suited for remote work, as it allows companies to secure their networks and applications regardless of their location. As remote work becomes the new normal, Zscaler is well-positioned to capitalize on this trend and grow its customer base.

STA Research’s decision to raise the price target for Zscaler’s stock to $130 from $115 is a testament to the company’s strong financial performance and its potential for sustained growth in the cybersecurity industry. Zscaler’s innovative approach to cybersecurity, its expanding product portfolio, and its partnerships with leading cloud providers make it well-positioned to capture a significant share of the market. As businesses increasingly adopt cloud-based services and remote work becomes more prevalent, Zscaler’s cloud-based security solutions are likely to become even more in-demand, further driving the company’s growth. Investors and analysts alike should keep an eye on Zscaler as it continues to innovate and expand its reach in the cybersecurity industry.

 

Top Trending Stocks

AVG Analyst Rating STA Analysis
StockTargetAdvisor
Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Neutral
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Neutral
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Neutral
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Strong Buy
StockTargetAdvisor
Slightly Bullish
StockTargetAdvisor
Buy
StockTargetAdvisor
Slightly Bullish
Ad
Ad

Leave a Reply

Your email address will not be published. Required fields are marked *