Piper Sandler analysts reiterated an Overweight rating and set a $255 price target on Zscaler (NASDAQ:ZS) after recent investor meetings with CEO Jay Chaudhry. The analysts expressed optimism about Zscaler’s position in the current market environment and its ability to scale beyond $5 billion in annual recurring revenue (ARR).

Key discussions highlighted recent go-to-market (GTM) changes, macroeconomic conditions, platform expansion, and acquisitions. Piper Sandler believes Zscaler is well-placed as a top pick for the second half of the year, given its strategic adjustments and market positioning.