Zscaler price target raised to $185 from $180 at Stifel

Stifel raised the firm’s price target on Zscaler to $185 from $180 and keeps a Buy rating on the shares following a “solid” fiscal Q4 report that featured all key metrics coming in above guidance, Stifel and Street estimates. Fiscal Q1 guidance was above expectations, while FY24 billings guidance was in-line with consensus and operating margin and EPS came in ahead of expectations, says the analyst, who continues to believe Zscaler has a number of drivers to sustain 25%-30% or greater growth and margin expansion.