Zscaler price target lowered to $145 from $175 at Piper Sandler

Piper Sandler analyst Rob Owens lowered the firm’s price target on Zscaler to $145 from $175 and keeps a Neutral rating on the shares. The company’s fiscal Q1 results saw a "more modest beat" against guided metrics and Street expectations, as increased deal scrutiny and sales realignments weighed, Owens tells investors in a research note. Additionally, Zscaler’s billings growth showed a steady deceleration versus the prior year, says the analyst.