FMP
Zscaler Positioned for Growth, Says Piper Sandler Analyst
Jul 18, 2024 8:54 PM - Davit Kirakosyan(Last modified: Jul 19, 2024 2:45 AM)
Image credit: FMP
Piper Sandler analysts reiterated an Overweight rating and set a $255 price target on Zscaler (NASDAQ:ZS) after recent investor meetings with CEO Jay Chaudhry. The analysts expressed optimism about Zscaler’s position in the current market environment and its ability to scale beyond $5 billion in annual recurring revenue (ARR).
Key discussions highlighted recent go-to-market (GTM) changes, macroeconomic conditions, platform expansion, and acquisitions. Piper Sandler believes Zscaler is well-placed as a top pick for the second half of the year, given its strategic adjustments and market positioning.
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