Zscaler Shares Soar 1.99% on Strong Q2 Earnings, Analyst Upgrade

Zscaler(ZS) shares surged 1.99%, marking the fifth consecutive day of gains, with a 13.51% increase over the past five days. The stock price reached its highest level since March 2024, with an intraday gain of 2.75%.

Zscaler's recent stock price surge can be attributed to several key factors. The company reported impressive financial results for the second quarter, including a 23% increase in revenue and a 22% free cash flow margin. These strong financials have likely contributed to investor confidence and the stock's upward trajectory.

Additionally, BNP Paribas Exane upgraded Zscaler's rating to Outperform from Neutral, setting a price target of $260. This upgrade has likely influenced the stock's positive movement, as reflected in the closing price of more than 1% increase. The combination of strong financial performance and positive analyst sentiment has driven Zscaler's stock price to new heights.