Zscaler price target lowered to $215 from $255 at Piper Sandler

Piper Sandler lowered the firm’s price target on Zscaler to $215 from $255 and keeps an Overweight rating on the shares. Despite Q4 upside across all metrics, a back-end weighted billings mix sent shares sliding in the aftermarket and erased the prior month’s gains, the firm notes. As underlying trends towards larger deals were solid, Piper has confidence in the company’s ability to execute and believes shares set up well from here.