Zscaler price target lowered to $205 from $215 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Zscaler (ZS) to $205 from $215 and keeps an Equal Weight rating on the shares. Fiscal Q1 results were “fine,” but the billings beat was lighter than expected and fiscal year guidance still assumes a steep second half acceleration amid a sales organization transition and CFO departure, the analyst tells investors in a post-earnings note.