Zscaler (NASDAQ:ZS) had its price target lowered by Cowen from $85.00 to $70.00 in a research note issued on Wednesday, The Fly reports. The brokerage presently has an “outperform” rating on the stock. Cowen’s price target would suggest a potential upside of 41.16% from the stock’s previous close.
A number of other brokerages have also weighed in on ZS. BMO Capital Markets lowered their price objective on shares of Zscaler from $100.00 to $60.00 and set a “market perform” rating for the company in a report on Wednesday. They noted that the move was a valuation call. OTR Global downgraded shares of Zscaler from a “mixed” rating to a “negative” rating in a research note on Monday, August 19th. Morgan Stanley lifted their target price on shares of Zscaler from $43.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, May 31st. Piper Jaffray Companies lifted their target price on shares of Zscaler from $65.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 31st. Finally, Deutsche Bank lifted their target price on shares of Zscaler from $57.00 to $76.00 and gave the stock a “hold” rating in a research note on Wednesday, May 29th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $67.50.
Shares of ZS opened at $49.59 on Wednesday. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -159.97 and a beta of 1.29. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54. The firm has a 50 day moving average price of $76.08 and a 200-day moving average price of $72.13.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $86.11 million during the quarter, compared to analyst estimates of $82.15 million. Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. Equities research analysts forecast that Zscaler will post -0.17 EPS for the current year.
In other Zscaler news, Director Karen Blasing sold 1,000 shares of the business’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $77.12, for a total transaction of $77,120.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Amit Sinha sold 4,807 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $65.52, for a total transaction of $314,954.64. Following the transaction, the insider now directly owns 127,664 shares in the company, valued at $8,364,545.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 189,774 shares of company stock worth $15,730,959. Insiders own 27.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Tortoise Index Solutions LLC purchased a new stake in shares of Zscaler in the 1st quarter worth about $25,000. CSat Investment Advisory L.P. purchased a new stake in shares of Zscaler in the 2nd quarter worth about $25,000. Meadow Creek Investment Management LLC purchased a new stake in shares of Zscaler in the 2nd quarter worth about $32,000. Neuburgh Advisers LLC purchased a new stake in shares of Zscaler in the 2nd quarter worth about $44,000. Finally, Wealthcare Advisory Partners LLC grew its position in shares of Zscaler by 211.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock worth $50,000 after buying an additional 475 shares during the period. 33.49% of the stock is currently owned by institutional investors and hedge funds.
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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