** Zscaler's ZS.O shares down 3.6% at $304.02 before the bell as cloud security firm seeks capital raise
** San Jose, California-based ZS announces private offering of $1.5 bln 3-yr convertible bonds (CBs)
** It plans to use portion of net proceeds to pay for capped calls, derivative transactions to mitigate potential dilution
** Remainder intended for general purposes, including working capital, capex, potential acquisitions and strategic transactions
** Co has $49.1 bln market cap through Fri
** ZS shares on Fri closed up 0.5% at $315.32. YTD, stock up 75% including 24% gain over the past month
** On May 29, co raised its annual forecasts as businesses spend more on cybersecurity, and named Kevin Roberts as new CFO
** Of 47 analysts covering ZS, recommendation breakdown is 34 "strong buy" or "buy" and 13 "hold" ratings, LSEG data reflects
** Median PT of $317.50 up from $295 a month ago and from $240 on Mar 30
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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