Zscaler price target lowered to $170 from $200 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on Zscaler to $170 from $200 and keeps a Neutral rating on the shares. Zscaler delivered a strong finish to FY24, but FY25 billings guidance at 19% year over year growth at the midpoint is short of what the firm believes the investor/buyside expectation to be, the analyst says. Cantor walked away from this quarter feeling positive about the momentum on the new AI Analytics product contributing to 3% growth in the quarter and 2% in FY24.