Zscaler (NASDAQ:ZS) shares are trading higher on Monday after Needham maintained a Strong Buy rating on the stock and raised its price target from $110 to $130.
Zscaler is a security-as-a-service firm that offers its customers cloud-delivered solutions for protecting user devices and data. The firm leverages its position in 150 colocation data centers to deliver traditionally appliance-based security functionality, such as firewalls and sandboxes, as a completely cloud-native platform.
Zscaler shares were trading up 2.66% at $111.46 at the time of publication on Monday. The stock has a 52-week high of $115.17 and a 52-week low of $35.