Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Zscaler to $160 from $165 and keeps a Buy rating on the shares. The analyst’s fundamental enterprise software checks for the January period were generally solid, even as most of its contacts are expecting a meaningfully weaker Q1 and Q2. In addition, management teams across software have started aggressively cutting costs and moderating hiring, which is prudent given lower growth projections, the analyst tells investors in a research note. The firm continues to find the overall risk/reward "quite attractive," and believes investors should be rewarded over the medium-term, if not sooner.
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