Goldman Sachs raised the firm’s price target on Zscaler (ZS) to $190 from $177 but keeps a Neutral rating on the shares. The company’s Q1 operating margins, billings and revenue were above consensus estimates, the analyst tells investors in a research note. The firm adds however that while it continues to see Zscaler as best of breed in SSE, it is also incrementally more cautious on the stock given that its opportunity is likely tied to larger customers as SASE products from competitors mature downmarket.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
