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Barchart
Pathikrit Bose

B. Riley Upgrades Zscaler Stock to ‘Buy.’ So Much for Software Apocalypse Fears.

Zscaler TO ZS

Leading broker B.Riley recently upgraded shares of cloud cybersecurity firm Zscaler (ZS) to a “Buy” rating from “Neutral.” Dispelling fears about the so-called “SaaSpocalypse," the firm cited Zscaler's private cloud network, a large database of cybersecurity clients, and reliability as reasons for the upgrade.

B.Riley lowered its price target to $225 from $275 due to a correction in the valuation multiples of the wider sector. Even so, the revised price target suggests potential upside of about 29% from current levels.

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