.July 18, 2024 04:54:00 PM

Piper Sandler analysts are bullish on Zscaler (NASDAQ:ZS), reiterating an Overweight rating and setting a $255 price target. CEO Jay Chaudhry’s recent investor meetings fueled optimism about Zscaler’s potential to surpass $5 billion in annual recurring revenue.

Discussions focused on Zscaler’s recent go-to-market changes, macroeconomic conditions, platform expansion, and acquisitions. Piper Sandler views Zscaler as a top pick for the second half of the year, citing strategic adjustments and strong market positioning as key factors.