Guggenheim upgraded Zscaler to Buy with a $214 price target following a post-earnings selloff in the stock.
Zscaler (ZS) shares climbed as much as 10% in early Monday trading after Guggenheim upgraded the cybersecurity firm to Buy from Neutral. The upgrade followed a sharp decline in Zscaler’s stock post-earnings, which prompted the brokerage to set a $214 price target.
Prior to the upgrade, Zscaler’s shares had dropped after its third-quarter earnings report and guidance disappointed investors. Guggenheim’s move signals renewed confidence in the company’s outlook despite the recent pullback.
The stock’s rebound reflects investor reaction to the upgrade, though broader market conditions and sector trends may influence further movement.