BTIG raised the firm’s price target on Zscaler to $191 from $185 and keeps a Buy rating on the shares. The company’s Q4 results were “substantially better than expected”, with billings up 38% from last year and guidance also coming in “strong” for billings to growth 25% to $2.54B vs. consensus estimate of $2.47B, the analyst tells investors in a research note. Zscaler’s large deal activity was also strong and its emerging products ZDX and ZCP continue to show a lot of momentum, BTIG added.
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