Citi raised the firm’s price target on Zscaler (ZS) to $235 from $230 and keeps a Buy rating on the shares following the fiscal Q1 report. The company reported a billings beat, bookings growth reacceleration, and strong upside on profitability, the analyst tells investors in a research note. However, the firm believes the results are unlikely settle the debate on shares as bears emphasize “still-back-end weighted sales execution risk” and the implied Q2 billings below consensus.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZS:
- Zscaler price target raised to $190 from $180 at Wells Fargo
- Zscaler price target raised to $190 from $177 at Goldman Sachs
- AT&T announces long-term targets, BlackRock acquires HPS: Morning Buzz
- Zscaler price target raised to $215 from $195 at BofA
- Morning Movers: U.S. Steel falls following Trump vow to block Nippon deal