Zscaler (NASDAQ:ZS) Price Target Cut to $225.00

Zscaler (NASDAQ:ZS) had its price objective trimmed by Robert W. Baird from $260.00 to $225.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Rosenblatt Securities restated a neutral rating and set a $190.00 target price on shares of Zscaler in a report on Tuesday, May 28th. UBS Group decreased their target price on shares of Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Barclays increased their price target on shares of Zscaler from $210.00 to $230.00 and gave the company an overweight rating in a research report on Monday, August 26th. Loop Capital cut their price target on shares of Zscaler from $225.00 to $180.00 and set a hold rating on the stock in a report on Friday, May 31st. Finally, Stifel Nicolaus lowered their price objective on shares of Zscaler from $270.00 to $220.00 and set a buy rating for the company in a research note on Thursday, May 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $218.39.

Zscaler Trading Down 3.4 %

ZS stock opened at $156.78 on Wednesday. The company has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler has a one year low of $146.59 and a one year high of $259.61. The company’s 50 day moving average price is $187.65 and its two-hundred day moving average price is $187.23.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the company earned ($0.17) EPS. The firm’s revenue was up 30.3% compared to the same quarter last year. As a group, analysts predict that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which is available at this link. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Zscaler in the 2nd quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Zscaler during the fourth quarter valued at $29,000. Quadrant Capital Group LLC increased its holdings in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares in the last quarter. Asset Dedication LLC raised its position in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC bought a new position in Zscaler during the 2nd quarter valued at about $50,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

About Zscaler

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.