Truist Securities Reiterates Buy Rating on Zscaler (ZS)

Truist Securities analyst Junaid Siddiqui reiterated a Buy rating and $350.00 price target on Zscaler (NASDAQ: ZS).

The analyst commented: "We met with CEO Jay Chaudhry, CFO Kevin Rubin, and VP, IR & Strategic Finance Ashwin Kesireddy at our Truist Securities Technology Symposium on Thursday, September 4. We came away incrementally positive on ZS's LT platform strategy and strength in their emerging businesses, especially Zero Trust Branch. We reiterate our Buy rating and $350 PT.

We believe this new flexible licensing model, which ZS announced less than two quarters ago, could help speed up platform adoption for ZS and be a growth driver in FY26. Z-Flex is an annual commitment that works like a subscription and is not a consumption model or ELA. In FQ4, the Z-Flex program generated over $100M in TCV bookings, up 50% QoQ, and management said it is becoming the preferred motion of strategic, multi-year deals. Lastly, ZS's GTM engine continues to improve, with attrition down in FY25 and FQ4 productivity the highest in two years."

For an analyst ratings summary and ratings history on Zscaler click here. For more ratings news on Zscaler click here.

Shares of Zscaler closed at $274.20 yesterday.

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