Zscaler price target lowered to $135 from $143 at Barclays

Barclays lowered the firm’s price target on Zscaler to $135 from $143 and keeps an Equal Weight rating on the shares. The company’s billings grew 34% year-over-year in fiscal Q2, which digested two points of headwind from more ramp deals but also benefited from longer duration than expected, the analyst tells investors in a research note. The firm says this is the second quarter of deceleration, which reflects the different macro, but will also create more debate on competition.