Zscaler price target raised to $225 from $190 at Loop Capital

Loop Capital analyst Yun Kim raised the firm’s price target on Zscaler to $225 from $190 but keeps a Hold rating on the shares. The company’s billings growth of 27% beat consensus estimates, though it represents a “sizable deceleration” from last year’s 36% and Q1’s 34%, the analyst tells investors in a research note. Zscaler also remains conservative in its outlook, which assumes some deterioration in its close rates, the firm added.