Zscaler price target raised to $190 from $165 at Loop Capital

Loop Capital raised the firm’s price target on Zscaler to $190 from $165 and keeps a Hold rating on the shares after its Q1 earnings beat. The company showed a solid start to the year driven by strong federal government business and strength in large deal activity with new customers, the analyst tells investors in a research note. Zscaler’s high-profile security platform peers continued to report lackluster booking results, but the company showed strong sales execution, especially around large deals, and it is clear that Zscaler has evolved its go-to-market motion and sales operations to better navigate the current macro conditions, the firm adds.