Zscaler price target lowered to $240 from $270 at JMP Securities

JMP Securities lowered the firm’s price target on Zscaler (ZS) to $240 from $270 and keeps an Outperform rating on the shares. Zscaler reported healthy Q1 results across all guided metrics, supported by what Chairman and CEO Jay Chaudhry characterized as a “growing interest in our AI solutions,” the analyst tells investors in a research note. In addition, guidance for fiscal 2025 was in line to slightly ahead of consensus across all guidance metrics and new disclosures support management’s confidence in billings acceleration in the second half of 2025, the firm says.