JPMorgan raised the firm’s price target on Zscaler (ZS) to $292 from $275 and keeps an Overweight rating on the shares. The company reported “solid beat and raise results as peers nurse their earnings season bruises,” the analyst tells investors in a research note. The firm says Zscaler delivered solid results as revenue, billings, profitability and free cash flow all beat consensus estimates. The company passed the revenue and profitability beat through, increasing full year guidance for revenue, profitability, and billings, adds JPMorgan.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZS:
- Zscaler price target raised to $251 from $244 at Bernstein
- Zscaler’s Strong Financial Performance and Strategic Growth Drive Buy Rating
- Zscaler: Strong Performance and Growth Amidst Competitive Market Dynamics Justifies Hold Rating
- Zscaler price target raised to $315 from $260 at UBS
- Zscaler price target raised to $310 from $290 at KeyBanc