Zscaler rises as Wedbush sees advantages in zero trust after Zenith conference
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Zscaler (NASDAQ:ZS) shares rose 1% in pre-market trading on Friday as investment firm Wedbush Securities said the company has an advantage in zero-trust cybersecurity after attending the company's Zenith conference.
Analyst Taz Koujalgi, who has an outperform rating and per-share price target of $160 on Zscaler (ZS), noted that the feedback from partners and customers at the conference was "positive," as they see ease of deployment and usage. 
Even though there have been concerns that [Zscaler Private Access] momentum would have slowed down post-Covid, we found numerous instances of customers who were just beginning to deploy [Zscaler Private Access] and VPN replacement was cited a catalyst," Koujalgi wrote in an investor note.
Koujalgi added that partner feedback was good with demand continuing to hold up and there have not been any "noticeable" changes in wins and losses from the competition prior to what has been seen in the past.
Zscaler (ZS) reported strong fiscal third-quarter earnings report earlier this month after having preliminarily release the results in May. 
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