Zscaler: Buy Rating Reiterated with $230 Price Target Unchanged Amid CRO Transition and Attractive Valuation

Zscaler, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Shrenik Kothari from Robert W. Baird maintained a Buy rating on the stock and has a $230.00 price target.

Shrenik Kothari has given his Buy rating due to a combination of factors, even as Zscaler undergoes a CRO transition. He views the handoff to Ross Tackett as an orderly succession supported by a strong leadership bench and a three‑month advisory overlap from outgoing CRO Mike Rich, limiting disruption to the global sales and go‑to‑market organization.

Kothari also emphasizes that current data points do not indicate a deterioration in Zscaler’s core business performance, and that management has already incorporated execution risk from sales leadership changes into the FY27 framework. With valuation at roughly 7.3x FY2 EV/Sales and the upcoming Investor Day expected to reinforce the long‑term outlook, he sees the risk‑reward profile as attractive and thus keeps his $230 price target unchanged alongside the Buy rating.

In another report released on September 18, B. Riley Securities also reiterated a Buy rating on the stock with a $215.00 price target.