ZS - Why Zscaler Stock Was a Winner Today
2023-10-02 18:37:15 ET
For the second trading day in a row, Zscaler (NASDAQ: ZS) stock rose in price thanks to a favorable analyst move. This helped the cybersecurity company's shares rise by nearly 3.5% on Monday, a slightly better performance than the 3% gain on Friday.
Today, Zscaler enjoyed a recommendation upgrade from a prognosticator tracking its stock. Piper Sandler 's Rob Owens upped his estimation one peg to overweight (buy) from the previous neutral. This was accompanied by a price target increase of nearly 20%, to $190 per share from $160.
The cybersecurity industry as a whole is in a fine position, as it stands to benefit from uptake in next-generation networking services. With increasingly complex networks to operate, there's a growing need for the types of security solutions Zscaler can provide for businesses.
For further details see:
Why Zscaler Stock Was a Winner Today