Mizuho analyst Gregg Moskowitz reiterated a Neutral rating and $210.00 price target on Zscaler (NASDAQ: ZS).

The analyst commented: "ZS reported a solid overall F1Q, as total billings growth of 13% Y/Y modestly exceeded our and the Street's 11% growth estimate. Revenue was nicely above consensus. That said, ZS's quarterly growth upside was a bit more moderate than many investors were hoping to see. Meanwhile, F2Q revenue and EPS guidance was in line to slightly below, with the F1Q revenue beat passed through to the full year. In addition, CFO Remo Canessa surprisingly announced his retirement and will be missed.

More broadly, we believe ZS remains well positioned within SASE. However, as stated in our recent downgrade, we're not confident that ZS can continue to close large, transformative deals at a steady pace, particularly given the macro environment coupled with what we believe is an increasingly competitive SASE market, and elevated sales turnover from earlier in CY24. Reiterate Neutral and $210 PT."

For an analyst ratings summary and ratings history on Zscaler click here. For more ratings news on Zscaler click here.

Shares of Zscaler closed at $208.51 yesterday.