RBC Capital keeps an Outperform rating and $230 price target on Zscaler (ZS) after its Q1 results. The company reported a “solid” quarter with a beat across the board that flowed through to higher FY25 guidance, while its FY25 midpoint revenue guidance outlook now points to 21.5% growth and billings points to 19.6% growth, the analyst tells investors in a research note. Zscaler’s fundamental drivers support durable growth, RBC notes, adding that it is also “not reading into” the retirement of the company’s CFO.
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