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Zscaler expects more than $8B in organic ARR by FY31, but Morgan Stanley waits for client growth
Seeking Alpha ·
Seeking Alpha reports: Zscaler outlined a path to achieve more than $8B in organic annual recurring revenue by fiscal year 2031 at its Investor Day on Tuesday, but Morgan Stanley analysts said it needs to see client growth to raise its confidence in the target. Morgan Stanley retained its Equal-weight rating and hiked its price target to $185 from $165, which represents a 13% decline from Zscaler's current stock price. "Our EW rating on ZS has not been a result of technology or opportunity;…