JPMorgan analyst Brian Essex raised the firm’s price target on Zscaler (ZS) to $240 from $220 and keeps an Overweight rating on the shares ahead of the company’s earnings report due next week. Investor expectations have been mixed, but the firm thinks initial guidance was “conservative,” the bar for Q1 billings growth is “low,” demand remains healthy, and billings are set up well to accelerate, all of which makes the setup through the remainder of its fiscal year “compelling,” the analyst tells investors in a preview. The firm’s raised target reflects higher peer multiples and expectations of acceleration through FY25, the analyst noted.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on ZS:
- Zscaler (ZS) Q1 Pre-Earnings: Here’s What to Expect
- Zscaler price target raised to $238 from $205 at BTIG
- Zscaler price target raised to $245 from $225 at Jefferies
- Zscaler price target raised to $245 from $220 at KeyBanc
- Zscaler price target raised to $220 from $200 at Barclays
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
