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On Thursday, Jefferies analysts raised the price target for Zscaler stock (NASDAQ: NASDAQ:ZS) to $350 from $305, while maintaining a Buy rating. The stock, currently trading near its 52-week high of $303.42, has delivered an impressive 70% return over the past year. The price target upgrade follows the firm’s attendance at Zscaler’s Zenith Live ’25 event in Las Vegas earlier this week.
During the event, Zscaler highlighted its focus on data security and agentic operations. Although the announcements were largely technical with no financial updates, Jefferies noted that the overall sentiment among channels and customers was positive.
The analysts emphasized the importance of Secure Access Service Edge (SASE) and Zero Trust solutions, describing them as essential with ongoing positive momentum. They believe Zscaler remains a leading solution in the enterprise space, with Palo Alto Networks (NASDAQ:PANW) as a close competitor.
Jefferies maintains its Buy rating for Zscaler, citing the company’s strong position in the market and the potential for continued growth. The new price target reflects confidence in Zscaler’s ability to capitalize on the increasing demand for its security solutions.
In other recent news, Zscaler has seen a series of analyst updates following its Zenith event in Las Vegas. RBC Capital raised its price target for Zscaler to $315, maintaining an Outperform rating, citing strategic advancements and growth opportunities highlighted at the event. Needham also increased its price target to $350, noting the company’s focus on artificial intelligence and its Zero Trust Everywhere initiative. Meanwhile, Wedbush raised its target to $330, driven by strong demand for Zscaler’s Cloud and AI solutions, and BTIG set a new target of $329, reflecting positive feedback from Zscaler’s annual user conference. Susquehanna maintained a Positive rating with a $320 target, emphasizing platform expansion opportunities and the integration of AI in security operations. Across these updates, Zscaler’s acquisition of Red Canary was frequently mentioned, with analysts highlighting its potential to enhance threat management capabilities. The company’s strategic moves and new solutions have reinforced its market presence and growth prospects. These developments suggest a strong outlook for Zscaler as it continues to innovate in the cybersecurity space.
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