BMO Capital raised the firm’s price target on Zscaler (ZS) to $233 from $222 and keeps an Outperform rating on the shares. The company delivered a solid quarter and guide, and its remaining performance obligation – RPO – growth of 28% y/y improved from 26% y/y last quarter, the analyst tells investors in a research note. Management’s comments around Zero Trust for Branch opportunities are also intriguing, the firm added.
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