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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
