Cantor Fitzgerald raised the firm’s price target on Zscaler to $185 from $170 and keeps a Neutral rating on the shares. Zscaler started FY24 on solid footing, exceeding consensus estimates on revenue, billings, operating income, EPS, and free cash flow, the analyst tells investors in a research note. The firm is encouraged by a couple of large transaction wins against traditional firewall providers, and says the innovative Zero Trust Exchange is key to minimizing the attack surface, preventing lateral movements and data loss while inspecting traffic at scale.
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