Bernstein Upgraded Zscaler, Inc. (ZS) to Outperform with a Price Target of $228

2026-03-12 20:59:56

Bernstein analyst Peter Weed upgraded Zscaler, Inc. (ZS) to Outperform from Market Perform, setting a price target of $228 due to its valuation as the “cheapest” cybersecurity vendor. Despite expected growth deceleration, Bernstein anticipates Zscaler will continue to attract new customers. This upgrade comes after RBC Capital lowered its price target on Zscaler to $250, citing negative investor sentiment in the software sector, and Zscaler’s recent acquisition of SquareX to enhance its zero-trust capabilities.

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