BMO Capital raised the firm’s price target on Zscaler to $200 from $195 and keeps an Outperform rating on the shares. The company’s Q1 results were “reasonable”, though the billings growth upside was “perhaps less than investors expected”, the analyst tells investors in a research note. Longer term, BMO remains positive on Zscaler’s fundamentals, also noting that the company’s growing platform and expanding total addressable market can support long-term, durable growth.
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