Several Analysts Boost Price Targets On Zscaler Following Strong Q4 Results, But This Analyst Disagrees

Several Analysts Boost Price Targets On Zscaler Following Strong Q4 Results, But This Analyst Disagrees

Zscaler, Inc. ZS reported better-than-expected Q4 results and issued sales guidance above estimates.

The company expects full-year 2023 revenue to be between $1.49 billion and $1.5 billion versus the estimate of $1.47 billion. Zscaler expects full-year adjusted earnings to be in a range of $1.16 per share to $1.18 per share.

Zscaler shares gained 19.2% to $183.88 on Friday.

Several analysts made changes to their price targets on Zscaler today.

  • Needham boosted the price target on the stock from $185 to $210. Needham analyst Alex Henderson maintained a Strong Buy rating on the stock.
  • Piper Sandler raised price target on the stock from $160 to $175. Piper Sandler analyst Rob Owens maintained Zscaler with a Neutral.
  • RBC Capital increased the price target on the stock from $200 to $210. RBC Capital analyst Matthew Hedberg maintained an Outperform rating on the stock.
  • Barclays boosted the price target on the stock from $168 to $175. Barclays analyst Saket Kalia maintained an Equal-Weight rating on the stock.
  • Mizuho raised Zscaler price target from $200 to $205. Mizuho analyst Gregg Moskowitz maintained a Buy rating on the stock.
  • BMO Capital boosted Zscaler’s price target $172 to $200. BMO Capital analyst Keith Bachman maintained the stock with an Outperform.
  • Deutsche Bank raised price target on the stock from $190 to $215. Deutsche Bank analyst Patrick Colville maintained Zscaler with a Buy.
  • Canaccord Genuity raised price target on the stock from $210 to $220. Canaccord Genuity analyst Michael Walkley maintained Zscaler with a Buy.
  • Wells Fargo increased the price target on the stock from $220 to $225. Wells Fargo analyst Andrew Nowinski maintained Zscaler with an Overweight.
  • Stifel raised price target on the stock from $200 to $210. Stifel analyst Adam Borg maintained a Buy rating on Zscaler.
  • Stephens & Co. raised price target on the stock from $200 to $210. Stephens & Co. analyst Brian Colley maintained Zscaler with an Overweight.
  • Credit Suisse, however, cut Zscaler’s price target from $310 to $275. Credit Suisse analyst Phil Winslow maintained the stock with an Outperform.

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