Piper Sandler raised the firm’s price target on Zscaler (ZS) to $235 from $215 and keeps an Overweight rating on the shares. The firm remains confident in the thesis for Zscaler following Q1 results. Results topped expectations as forward guidance flowed through the beat. Tidbits around accelerating bookings growth and progress on the GTM transformation drives Piper’s longer-term optimism and confidence in the second half of the year billings acceleration. The firm thinks the setup for the rest of the year should lead to continued beats/raises, and is a buyer at current levels.
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Read More on ZS:
- Zscaler price target raised to $250 from $245 at KeyBanc
- Zscaler’s Strong Q1 Performance and Strategic Moves
- Closing Bell Movers: Zscaler down 8% despite earnings beat
- Zscaler Updates Severance Policy and CFO Transition
- Zscaler CFO Remo Canessa to retire
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
