Zscaler price target raised to $252 from $238 at BTIG

BTIG raised the firm’s price target on Zscaler (ZS) to $252 from $238 and keeps a Buy rating on the shares. The company delivered strong Q2 and increased billings guidance for FY25, and while Zscaler still faces a heavier than normal ramp in the second half of the year, the reacceleration inFQ2, commentary on improving sales productivity, and visibility on scheduled billings provides confidence in the company’s ability to meet or exceed expectations, the analyst tells investors in a research note. BTIG adds that it was encouraged by insights on emerging and tangential products and the company’s initiatives to win incremental business in an upcoming firewall refresh with its Zero Trust Branch offering.