Zscaler price target lowered to $320 from $334 at Scotiabank

Scotiabank lowered the firm’s price target on Zscaler (ZS) to $320 from $334 and keeps an Outperform rating on the shares. The company reported a “very decent” organic ARR performance in Q1, but slightly underwhelming bottom line results, the analyst tells investors. In the medium-term, the firm believes the risk-reward profile skews positive on Zscaler as a growth compounder.