US Stock Market News | Target price of Zscaler lowered by multiple Wall Street banks, Zscaler falls more than 16%

On Wednesday, the stock price of the cybersecurity company Zscaler fell sharply, with the stock down over 16% to $161.5 as of the time of writing. Several Wall Street major banks lowered their price targets for the company after it announced its Q4 earnings. Needham analyst Alex Henderson reduced the stock's target price to $235; Baird analyst Shrenik Kothari lowered the target price to $225; Loop Capital analyst Yun Kim cut Zscaler's target price to $165. The company reported Q4 revenue of $592.9 million, a 30% year-over-year increase, exceeding analysts' expectations of $568.5 million; adjusted earnings per share were $0.88, surpassing analysts' expectations of $0.70. The company expects revenue for the fiscal year 2025 to be between $2.6 billion and $2.62 billion, lower than analysts' expectations of $2.63 billion. Zscaler focuses on providing cloud-based security solutions for enterprises. Its core product is a cloud security platform that helps businesses secure their users, applications, and data in internet and cloud environments