Truist analyst Joel Fishbein keeps a Buy rating and $205 price target on Zscaler after its Q1 earnings beat. The company has continued its strong momentum with solid results in the quarter despite a challenging macro environment, affirming its goal of balancing growth and profitability, the analyst tells investors in a research note. The stock fell as the management affirmed its billings outlook for FY24, but the guidance is prudent and is reflective of the new GTM sales leadership announcements as opposed to any weakness in demand, Truist added.
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