Zscaler (NASDAQ:ZS) Trading Down 2.7%

Zscaler, Inc. (NASDAQ:ZS)’s stock price was down 2.7% during mid-day trading on Tuesday . The stock traded as low as $195.90 and last traded at $196.17. Approximately 359,618 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 2,235,283 shares. The stock had previously closed at $201.63.

Analysts Set New Price Targets

ZS has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “strong-buy” rating and set a $290.00 price target on shares of Zscaler in a research report on Friday, June 14th. Sanford C. Bernstein decreased their target price on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Scotiabank cut their price target on shares of Zscaler from $250.00 to $210.00 and set a “sector outperform” rating for the company in a research report on Friday, May 31st. JMP Securities reissued a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research note on Monday, June 17th. Finally, Royal Bank of Canada raised their price target on Zscaler from $215.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Stock Performance

The business has a 50-day moving average of $180.66 and a 200 day moving average of $201.51. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market cap of $29.61 billion, a PE ratio of -384.75 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business had revenue of $553.20 million for the quarter, compared to the consensus estimate of $535.55 million. Equities research analysts anticipate that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total value of $848,380.77. Following the completion of the transaction, the chief financial officer now owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in ZS. Strategic Advisors LLC grew its stake in shares of Zscaler by 12.7% in the 2nd quarter. Strategic Advisors LLC now owns 1,428 shares of the company’s stock worth $274,000 after buying an additional 161 shares in the last quarter. Legal Advantage Investments Inc. grew its position in Zscaler by 75.0% in the second quarter. Legal Advantage Investments Inc. now owns 3,500 shares of the company’s stock worth $673,000 after acquiring an additional 1,500 shares in the last quarter. Linden Thomas Advisory Services LLC increased its stake in Zscaler by 3.2% during the second quarter. Linden Thomas Advisory Services LLC now owns 7,058 shares of the company’s stock worth $1,356,000 after acquiring an additional 221 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in Zscaler by 0.7% during the second quarter. Gulf International Bank UK Ltd now owns 13,438 shares of the company’s stock worth $2,582,000 after acquiring an additional 100 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Zscaler by 45.9% in the 2nd quarter. CWM LLC now owns 2,683 shares of the company’s stock valued at $516,000 after purchasing an additional 844 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.