Zscaler rises as BofA upgrades to 'buy'

Cloud security company Zscaler's ZS.O shares rise 1.5% to $204.40 premarket

BofA Global Research upgrades rating on co to "buy" from "neutral", citing strong financial performance, improved upsell capabilities and successful diversification

Raises PT to $240 from $215

Brokerage highlight co's stronger portfolio in zero-trust and data initiatives, and improved sales productivity after last year's change

Co reported FY25 revenue forecast on Wednesday, signaling increasing demand for its cloud-based cybersecurity services

ZS last traded at $202.16, compared to median PT of $240 according to LSEG, with average "buy" rating from 45 analysts covering stock

Stock up ~12% so far this year