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Fly News Breaks for February 21, 2020
ZS
Feb 21, 2020 | 06:59 EDT
Rosenblatt analyst Yun Kim raised the firm's price target on Zscaler to $58 from $50 and keeps a Neutral rating on the shares. The company reported fiscal Q2 results that beat Street billings estimates, representing three consecutive quarters of billings growth in the 30%s, Kim tells investors in a post-earnings research note. However, prior to its sales execution mishap in fiscal Q4, Zscaler's billings were growing in the 50%s and 60%s, so many investors may view Q2's 30% year-over-year billings growth rate as a "lackluster performance at best," adds the analyst. Overall, Kim believes the company is on the right track to improve its go-to-market and sales organization to accelerate growth. However, the analyst prefers to remain on the sidelines.
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