BMO Capital lowered the firm’s price target on Zscaler to $255 from $268 but keeps an Outperform rating on the shares. The analyst is citing the firm’s “modestly lower” confidence in the company’s ability to generate upside to billings guidance behind the price target cut, though with January quarter billings upside to guidance, BMO is raising its FY24 billings estimate by about 1%. The firm is also boosting its FY24 EPS view on Zscaler to $2.75 from $2.47 and its FY25 view to $3.15 from $2.81.
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