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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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
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