Needham analyst Alex Henderson keeps his Strong Buy rating and $210 price target on Zscaler while also naming the stock his 2023 Top Pick and adding shares to the Needham Conviction List. The company does not appear to be seeing the same level of deceleration as its peers considering its strong pipeline, larger deal sizes and an ability to sustain pricing, the analyst tells investors in a research note. Zscaler should be able to weather the 2023 downturn better than its competitors given the strong visibility to growth rate above 30% and margin expansion, Henderson adds.
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