Zscaler’s (NASDAQ: ZS) share price is expected to reach $360 due to technical price action, favorable analyst sentiment, and the results driving it. The latest price action has this market breaking out to new highs, confirming not only the near-term uptrend but also breaking the market out of a long-term trading range.
The trading range was in place due to valuation concerns and risks of slowing growth. The breakout occurred because the business fundamentals are catching up to the valuation, leading to an improved outlook. That is for sustainable 20% growth, free cash flow, and improving shareholder value.
