AI-Driven Risk360 Fuels Zscaler's Market Dominance: Analyst Highlights Strong Buy Rating And $210 Target Price
Portfolio Pulse from Nabaparna Bhattacharya
Needham analyst Alex Henderson reiterated a Strong Buy rating on Zscaler, Inc. (NASDAQ:ZS) with a price target of $210. The analyst is optimistic about the company's robust pipeline, new features and products, particularly the AI-driven Risk360. Zscaler's multi-tenancy architecture is seen as a significant advantage. The company is growing 50% faster than its closest competitor, Palo Alto Networks, Inc. (NASDAQ:PANW). ZS shares are trading higher by 6.12% to $151.94.
July 10, 2023 | 6:24 pm
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NEGATIVE IMPACT
Palo Alto Networks, Inc. (NASDAQ:PANW) is mentioned as Zscaler's closest competitor, which is growing 50% slower than Zscaler.
The news that Zscaler is growing 50% faster than Palo Alto Networks could negatively impact investor sentiment towards PANW, potentially leading to a short-term decrease in its stock price.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Zscaler, Inc. (NASDAQ:ZS) has received a Strong Buy rating from Needham analyst Alex Henderson, with a price target of $210. The company's AI-driven Risk360 and multi-tenancy architecture are seen as key growth drivers.
The Strong Buy rating and high price target from a reputable analyst, along with the positive feedback on the company's new features and products, particularly the AI-driven Risk360, are likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100