Zscaler shares are trading lower after the company reported Q2 financial results. Also, Bernstein maintained an Outperform rating on the stock and lowered its price target from $311 to $280.
Portfolio Pulse from Benzinga Newsdesk
Zscaler's stock price declined following the announcement of its Q2 financial results. Additionally, Bernstein has maintained an Outperform rating on Zscaler but reduced its price target from $311 to $280.
March 01, 2024 | 12:30 pm
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Zscaler's shares fell after Q2 earnings report, and despite Bernstein's continued Outperform rating, its price target was lowered from $311 to $280.
The decline in Zscaler's stock price is directly related to its Q2 financial performance, which likely did not meet investor expectations. Bernstein's decision to lower the price target, despite maintaining an Outperform rating, suggests a recalibration of future performance expectations, which could further influence investor sentiment negatively in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100