Zscaler reported strong earnings, exceeding Wall Street expectations, which resulted in several analysts raising their price targets significantly. Investment banks like Rosenblatt and BTIG expressed confidence in the company's future growth, highlighting improvements in sales growth and billing figures. Zscaler is predicting a sales growth of 22% for the year, which reflects solid performance and optimistic management guidance for fiscal 2025. Analysts note this as a sign of sustainable growth, leading to multiple bullish recommendations on the stock.
Zscaler predicts sales growth of 22% this year.
Zscaler crushed sales and earnings estimates on Wednesday night.
Trebnick noted, 'demonstrable improvements in performance' in the form of 'improving billings growth and margin expansion.'
Management is raising its guidance for fiscal 2025, proof of 'the company's continued confidence in the future.'
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