Zscaler price target lowered to $205 from $250 at RBC Capital

RBC Capital lowered the firm’s price target on Zscaler (ZS) to $205 from $250 and keeps an Outperform rating on the shares. The company reported a solid Q2, outperforming all key metrics, and while there was more clarity around Red Canary, it remained a focus of the quarter as guidance impacts were contemplated, the analyst tells investors in a research note. RBC adds that it remains comfortable with Zscaler’s organic trajectory as it address a large and growing market with an expanding platform.