Zscaler price target lowered to $165 from $175 at Mizuho

Mizuho analyst Gregg Moskowitz lowered the firm’s price target on Zscaler to $165 from $175 and keeps a Buy rating on the shares. The company reported a mixed Q1 as total billings grew below investor expectations given a recent sales re-organization, Moskowitz tells investors in a research note. That said, the Q2 guidance was solid, and management reiterated fiscal 2023 billings, says the analyst. He believes Zscaler remains very well positioned for growth despite the post-earnings selloff.