Zscaler price target raised to $245 from $225 at Jefferies

Jefferies raised the firm’s price target on Zscaler (ZS) to $245 from $225 and keeps a Buy rating on the shares. The firm’s survey work was more positive quarter-over-quarter, but other checks indicated a moderation in growth compared to fiscal Q4, the analyst tells investors in a preview. Still, the firm thinks Zscaler can meet “conservative” Q1 billings growth guidance of 10% year-over-year, telling investors that it expects mid-teens billings growth, which the firm calls more in line with the “true bogey.”