Nokia Supercharges India's Broadband with Ishan Tech; Taps Zscaler To Upgrade Cloud Protection

Written by Emily J. Thompson, Senior Investment Analyst

ZS+0.12%

IDGT+0.52%

RODM+0.32%

Source: Benzinga

Updated: Dec 17 2024

0mins

Source: Benzinga

Nokia's Partnership with Ishan Technologies: Nokia Corporation has partnered with Ishan Technologies to enhance broadband services in Gujarat and Maharashtra, India, by deploying advanced network solutions that will automate operations and improve customer experiences for over 256,000 subscribers.
Security Enhancements with Zscaler: In addition to broadband improvements, Nokia is implementing Zscaler's Zero Trust Exchange platform to strengthen cybersecurity and streamline operations, ensuring secure connections across devices while reducing costs.

$208.56+Infinity%1D

Analyst Views on ZS

Wall Street analysts forecast ZS stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ZS is 325.62 USD with a low forecast of 260.00 USD and a high forecast of 390.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

30 Analyst Rating

24 Buy

6 Hold

0 Sell

Strong Buy

Current: 208.310

Low

260.00

Averages

325.62

High

390.00

Current: 208.310

Low

260.00

Averages

325.62

High

390.00

RBC Capital

Matthew Hedberg

Outperform

downgrade

$366 -> $290

2026-01-05

Reason

RBC Capital

Matthew Hedberg

Price Target

$366 -> $290

AI Analysis

2026-01-05

downgrade

Outperform

Reason

RBC Capital analyst Matthew Hedberg lowered the firm's price target on Zscaler to $290 from $366 and keeps an Outperform rating on the shares. 2026 is likely to be a year when AI tailwinds become more evident for companies well positioned for enterprise AI adoption, while less prepared peers may remain pressured by the "AI is the death of software" narrative, the analyst tells investors in a research note. Enterprise spending appears to be stabilizing and improving in select areas, with GenAI driving innovation even as management teams remain conservative in early 2026 guidance, the firm says.

Piper Sandler

Neutral

downgrade

$280 -> $260

2026-01-05

Reason

Piper Sandler

Price Target

$280 -> $260

2026-01-05

downgrade

Neutral

Reason

Piper Sandler lowered the firm's price target on Zscaler to $260 from $280 and keeps a Neutral rating on the shares. The firm says 2025 proved to be a tough year for its Security & Infrastructure Software coverage, with the average name showing negative performance and only four names outperforming the NASDAQ. Piper is cautiously optimistic for a better year in 2026, with many names entering the year at interesting valuation levels setup well to be longer-term GenAI winners, despite monetization at the software layer not yet occurring at scale.

Unlock Full Analyst Thesis， Get the complete breakdown of rating reason for ZS

Unlock Now

Morgan Stanley

Overweight

downgrade

$335 -> $305

2025-12-18

Reason

Morgan Stanley

Price Target

$335 -> $305

2025-12-18

downgrade

Overweight

Reason

Morgan Stanley lowered the firm's price target on Zscaler to $305 from $335 and keeps an Overweight rating on the shares. Cybersecurity names were largely flat on the year, with platforms being up about 30%, on average, and the rest of the space being down about 12%, the analyst tells investors. The firm continues to see platforms as the "easiest way to play cyber" and expects them to continue to outperform, but believes other opportunities remain, the analyst tells investors in a year-ahead note for the group.

Mizuho

Neutral

Outperform

upgrade

$310

2025-12-16

Reason

Mizuho

Price Target

$310

2025-12-16

upgrade

Neutral

Outperform

Reason

Mizuho upgraded Zscaler to Outperform from Neutral with an unchanged price target of $310. The firm cites valuation for the upgrade, saying the shares are now "too attractive to ignore." Zscaler has sold off despite reporting a "very solid" fiscal Q1 report, the analyst tells investors in a research note. Mizuho is confident that Zscaler remains "very well-positioned" within zero trust. With the stock down 31% since the end of October, investors "are now being very well-compensated for the obfuscation," the analyst tells investors in a research note.

About ZS

Zscaler, Inc. is a cloud security company. The Company has developed a platform incorporating core security functionalities needed to enable fast and secure access to cloud resources based on identity, context and an organization’s policies. Its Zscaler Zero Trust Exchange platform protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Its solution is a purpose-built, multi-tenant, distributed cloud platform that incorporates the security functionality needed to enable users, applications, and devices to safely and efficiently utilize authorized applications and services based on an organization’s business policies. It delivers its solutions using a software-as-a-service (SaaS) business model and sells subscriptions to customers to access its cloud platform, together with related support services. It offers a security platform that combines its platform with automated security operations.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.