Zscaler price target raised to $180 from $175 at BMO Capital

BMO Capital raised the firm’s price target on Zscaler to $180 from $175 and keeps an Outperform rating on the shares. The company’s Q4 billings growth was “robust” at 38% vs. consensus 27%, and Zscaler should be able to continue to post solid results with upside tension to guidance given a large and expanding total addressable market, the analyst tells investors in a research note. Zscaler should also maintain its “technology leadership”, even as new competitors enter the market, the firm added.