Zscaler's $10 billion long-term ARR target looks ambitious, says Jefferies

Zscaler Inc. (NASDAQ:ZS)'s reaffirmation of its fiscal 2027 guidance supports confidence in its near-term growth outlook, but its $10 billion annual recurring revenue target for fiscal 2031 looks ambitious, Jefferies said. The cybersecurity company reaffirmed its first-quarter and fiscal 2027 guidance at its investor day, easing concerns about disruption from recent go-to-market leadership changes.