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BMO upgrades ZScaler to outperform after earnings beat, says inventory can rise 30%

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Zscaler rings the opening bell on the Nasdaq alternate in New York, March 16, 2018.

Supply: Nasdaq

The roll out of recent merchandise ought to assist ZScaler seize extra market share within the fast-growing community safety trade, in response to BMO Capital Markets.

Analyst Keith Bachman upgraded the community safety inventory to outperform from market carry out, saying in a notice to purchasers on Tuesday night time that the corporate had a pathway for “sturdy progress.”

The corporate launched its fiscal third-quarter outcomes on Tuesday, reporting 15 cents in adjusted earnings per share on $176.4 million in income. Each numbers had been comfy above what analysts had been anticipating, in response to Refinitiv.