Zscaler price target raised to $180 from $175 at BofA

BofA raised the firm’s price target on Zscaler to $180 from $175 and keeps a Buy rating on the shares. Zscaler ended its fiscal year “on a high note” as Q4 results “beat across the board,” the analyst tells investors. The company is executing well and continues to benefit from strong underlying secular trends and unique technology assets, says the firm, which adds that management having guided 2024 revenue at the same level of current ARR is “overly conservative.”