Zscaler Faces More Opportunities Amid Emerging AI-Related Cybersecurity Threats, RBC Says

MT Newswires Live06-10 23:01

Zscaler (ZS) faces increasing opportunities amid the emerging presence of artificial intelligence as enterprises face an accelerating volume of breaches, RBC Capital Markets analysts said in a note emailed Wednesday.

Customers acknowledge an urgent need for guardrails to deploy AI reliably but lack confidence in their current security capabilities, creates a favorable backdrop for Zscaler, analysts said.

The company believes it is well-positioned to deal with cybersecurity threats in the AI era, as its platform is built on a highly differentiated architecture unlike traditional security systems, RBC noted.

Analysts said that Zscaler's cloud security platform is well positioned to disrupt $20 billion of legacy security spend today, implying a total addressable market of over $72 billion.

RBC kept its outperform rating and $200 price target on the stock.

Price: 127.54, Change: +1.69, Percent Change: +1.35

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment