Zscaler rings the opening bell at the Nasdaq exchange in New York, March 16, 2018.
Source: Nasdaq
The rollout of new products should help ZScaler grab additional market share in the fast-growing network security industry, according to BMO Capital Markets.
Analyst Keith Bachman upgraded the stock to outperform from market perform, saying in a note to clients on Tuesday night that the company had a pathway for "durable growth."
The company released its fiscal third-quarter results on Tuesday, reporting 15 cents in adjusted earnings per share on $176.4 million in revenue. Both numbers were above what analysts surveyed by Refinitiv were expecting.
