Zscaler price target raised to $298 from $252 at BTIG

BTIG analyst Gray Powell raised the firm’s price target on Zscaler (ZS) to $298 from $252 and keeps a Buy rating on the shares. The company delivered much better than expected Q3 results and guided Q4 billings in-line with Street forecasts, effectively passing through the Q3 beat to the full year, the analyst tells investors in a research note. Over the past 10 days, some of the other cyber security companies highlighted some form of a pause in deal activity in April or more conservative forward assumptions around a weak macro environment, so i was “particularly good” to see “very clean” results from Zscaler, the firm added.