BofA increases Zscaler's price target to $340, highlighting sustained customer demand and platform adoption.

From Yahoo Finance: 2025-06-18 10:53:00

Zscaler Inc. (NASDAQ: ZS) is a top growth stock according to billionaires, with Bank of America raising its price target to $340 from $285. The company’s CEO highlighted sustained customer demand and platform adoption at the Bank of America’s Global Technology Conference. Over 70% of new ACV came from upselling to existing clients, with data security alone accounting for $350 million in ARR last quarter.

Zscaler is expanding beyond secure web gateway services, with Agentic operations now representing nearly $1 billion in ARR. The recent acquisition of Airgap Networks shows a deeper investment in cybersecurity advancements. The company’s focus on product differentiation and efficiency is supporting its growth outlook.

Rising demand for Zero Trust solutions justifies a higher multiple for Zscaler, as the company excels in innovation and customer expansion. Zscaler is known for its cloud-based cybersecurity solutions with a Zero Trust architecture ensuring secure connections between users, devices, and applications, regardless of location.



Read more at Yahoo Finance: BofA Raises Zscaler’s (ZS) PT to $340 Amid Rising Platform Adoption