Zscaler price target lowered to $155 from $165 at Canaccord

Canaccord analyst T. Michael Walkley lowered the firm’s price target on Zscaler to $155 from $165 and keeps a Buy rating on the shares. The analyst said we believe Zscaler is a core centerpiece of a robust cybersecurity framework and expect broader adoption to drive sustained 30%+ top-line growth with 20%+ FCF margins. The company is poised to continue to gain share as a long-term disruptive technology, and we view the stock as a core long-term holding.