Zscaler price target lowered to $143 from $160 at Barclays

Barclays analyst Saket Kalia lowered the firm’s price target on Zscaler to $143 from $160 and keeps an Equal Weight rating on the shares. The company reported billings growth of 37% in fiscal Q1 due to increased deal scrutiny and changes to the sales team, Kalia tells investors in a research note. The company’s Q2 pipeline sounds strong, but a December budget flush and competitive dynamics "will be questions," says the analyst.