Zscaler’s Outperform Rating Maintained at BMO Capital

BMO Capital analysts reiterated their Outperform rating on Zscaler (NASDAQ:ZS) with a price target on the stock of $208. Shares are up more than 2% in pre-market today.

The analysts attended Zscaler’s Zenith Live 24 event in Las Vegas and noted that the company announced fewer new product innovations this year compared to previous years. The analysts believe this shift indicates a positive focus on integrating and unifying Zscaler's platform as it expands beyond Secure Access Service Edge (SASE).

The analysts noted they feel more optimistic about Zscaler’s opportunities outside of its core SASE market. The analysts maintained their current estimates and price target, continuing to see strong potential for the company's growth and performance.