Zscaler price target lowered to $220 from $230 at JPMorgan

JPMorgan lowered the firm’s price target on Zscaler to $220 from $230 and keeps an Overweight rating on the shares. The company reported solid fiscal Q4 results but its guidance points to weaker than expected first half of fiscal 2025 billings, the analyst tells investors in a research note. The firm says that while softer billings for the first half of the year had been telegraphed by the company last quarter, the magnitude of implied deceleration “was a bit of a surprise.” Near-term, it expects investors will focus on the dynamics of first half of 2025 billings and ramp expected in the second half.