Zscaler price target lowered to $150 from $180 at Wedbush

Wedbush analyst Daniel Ives lowered the firm’s price target on Zscaler to $150 from $180 and keeps an Outperform rating on the shares. The company reported solid January quarter results but management noted higher scrutiny on overall budgets and elongated sales cycles, which speaks to a billings number that was not the typical massive Street beat investors have begun to expect, the analyst tells investors in a research note. The firm believes Zscaler "remains a gold standard cyber name to own" and would be buyers on any share weakness.