Zscaler rings the opening bell at the Nasdaq exchange in New York, March 16, 2018.
The roll out of new products should help ZScaler grab additional market share in the fast-growing network security industry, according to BMO Capital Markets.
Analyst Keith Bachman upgraded the network security stock to outperform from market perform, saying in a note to clients on Tuesday night that the company had a pathway for “durable growth.”
The company released its fiscal third-quarter results on Tuesday, reporting 15 cents in adjusted earnings per share on $176.4 million in revenue. Both numbers were comfortable above what analysts were expecting, according to Refinitiv.