Zscaler price target lowered to $156 from $160 at Wells Fargo

Wells Fargo lowered the firm’s price target on Zscaler to $156 from $160 and keeps an Overweight rating on the shares. The company "solidly exceeded" revenue estimates in Q2, though the billings beat was skinnier than normal, the analyst tells investors in a research note. The firm views this as a timing issue and sees no change to the stock’s long-term thesis.