ZS - Zscaler Breaks Through Market Challenges With Impressive FQ4 Earns Analyst Applause | Benzinga
Shares of Zscaler Inc (NASDAQ: ZS) got the attention of investors on Wednesday, along with four other stocks.
The results came amid an exciting earnings season. Here are some key analyst takeaways from Zscaler’s earnings release.
Canaccord Genuity On Zscaler
Analyst Michael Walkley maintained a Buy rating, while raising the price target from $172 to $190.
"Zscaler extended its cadence of steady beat-and-raise quarters” by reporting its fiscal fourth-quarter results ahead of expectations across the board, Walkley said in a note. The results were "highlighted by the company surpassing the $2B+ ARR (average recurring revenue) milestone, which doubled in less than two years,” he added.
"We believe Zscaler is increasingly well positioned for sustained strong growth trends given its robust technology moat and strong platform uptake,” the analyst further stated.
Needham On Zscaler
Analyst Alex Henderson reiterated a Strong Buy rating and price target of $210.
Zscaler reported higher-than-expected results "on all metrics even adjusting for a ~1% headwind from ramp deals ...