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ZS

Zscaler

$74.34

-6.5 (-8.04%)

12:37
08/19/19
08/19
12:37
08/19/19
12:37

Zscaler slides after OTR says checks point to weaker partner trends

Shares of Zscaler are lower after analysts at boutique firm OTR Global said in a note to investors prior to the open that their checks with the company's partners indicated that a greater proportion fell below their sales goals this quarter than last and more of them saw growth in the current quarter trailing the broader security market. OTR stated this morning that four of the 14 Zscaler partners it polled fell below their sales expectation in the fiscal fourth quarter, which is up from two of 13 polled last quarter, and seven of 11 partners said they saw growth lagging the overall security market in the fiscal fourth quarter. Win rates deteriorated quarter-over-quarter for three of 14 partners, while some large partners reported increased competition among channel partners, OTR said, according to contacts. In early afternoon trading, Zscaler shares are down $6.82, or 8.4%, to $74.09.

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ZS Zscaler
$74.34

-6.5 (-8.04%)

06/27/19
WEDB
06/27/19
NO CHANGE
Target $87
WEDB
Outperform
Zscaler price target raised to $87 from $82 at Wedbush
Wedbush analyst Daniel Ives raised his price target for Zscaler to $87 from $82 as he believes it has "massive tailwinds" on its cloud native network security approach with an expanded product footprint which represents a compelling "land and expand" strategy for the next few years. His checks over the last month have indicated "growing momentum" for the company's product portfolio heading into the next 12-18 months as the clear value proposition that Zscaler brings to its customers coupled with the "massive shift" to cloud has been the 1-2 punch getting more strategic deals over the goal line in Q4 thus far with an expanding pipeline into FY20. Ives reiterates an Outperform rating on the shares.
08/01/19
BMOC
08/01/19
INITIATION
Target $100
BMOC
Market Perform
Zscaler initiated with a Market Perform at BMO Capital
BMO Capital analyst Keith Bachman initiated Zscaler with a Market Perform rating and a price target of $100. The analyst believes that the company can grow its revenue by an average of 32% over his 7-year discount-cash-flow model forecast thanks to the share gains in the SWG business, but he prefers to await a "better entry point" to get constructive on the stock.
08/13/19
BOFA
08/13/19
NO CHANGE
Target $103
BOFA
Buy
Crowdstrike price target raised to $103 from $89 at BofA/Merrill
BofA Merrill Lynch analyst Tal Liani noted that he had expected and incorporated some share gains for Crowdstrike (CRWD) from Symantec (SYMC) in his model, but following the recent announcement that Broadcom (AVGO) intends to buy Symantec's enterprise business he sees the potential for those share gains to accelerate. Liani, who raised his price target on Crowdstrike shares to $103 from $89, reiterated a Buy rating on the stock. Aside from the potential for Crowdstrike in antivirus, Liani sees other areas of cyber security where Symantec leads and he could see shares losses should Broadcom's deal create any uncertainty around Symantec's roadmap or commitment to R&D in the space. In email security the beneficiaries would be Proofpoint (PFPT) and Mimecast (MIME) and in secure web gateways the beneficiary could be Zscaler (ZS), Liani noted.
08/19/19
OTRG
08/19/19
DOWNGRADE
OTRG
Negative
Zscaler downgraded to Negative from Mixed at OTR Global

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UAL

United Airlines

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BAC

Bank of America

$30.12

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T

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T

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BAS

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PHG

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NBSE

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KDMN

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KDMN

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RTN

Raytheon

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