Barclays initiates Zscaler at 13% upside

• Barclays initiates Zscaler (NASDAQ:ZS) at Equal Weight with a $30 price target, a 13% upside to yesterday’s close.
• Analyst Saket Kalia expects billings to grow at a 30% CAGR through FY20 with the shift of applications to the cloud impacts traditional security architectures.
• Zscaler shares are up 1.7% premarket to $27.