Baird analyst Jonathan Ruykhaver raised his price target on Zscaler to $80 from $65 following strong Q3 results. The analyst cited its Q4 guidance, backlog growth, and high net retention. Ruykhaver reiterated his Outperform rating on Zscaler shares.

Zscaler announced innovations - ZDX Copilot, Hosted Monitoring, and Data Explorer - to its Zscaler Digital Experience service. The new ZDX Copilot, an AI assistant, instantly analyzes and harnesses knowledge from over 500 trillion data points daily across users, devices, networks, and applications, to provide IT operations, service desk, and security teams insights they need related to digital experience and performance. Teams can ask sequences of questions to effectively converse with Copilot, which uses Generative AI, to review high-level trends and progressively narrow results down to specific actionable insights.