Zscaler (NASDAQ:ZS) Price Target Cut to $192.00 by Analysts at BMO Capital Markets

Zscaler (NASDAQ:ZSFree Report) had its target price decreased by BMO Capital Markets from $255.00 to $192.00 in a research note issued to investors on Wednesday, Benzinga reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other equities research analysts also recently commented on ZS. Wells Fargo & Company reiterated an equal weight rating and set a $182.00 price target (down from $275.00) on shares of Zscaler in a report on Tuesday, May 28th. Rosenblatt Securities reissued a neutral rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Wedbush raised their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Barclays decreased their target price on shares of Zscaler from $240.00 to $205.00 and set an overweight rating on the stock in a research report on Monday, May 20th. Finally, Morgan Stanley decreased their target price on shares of Zscaler from $214.00 to $202.00 and set an equal weight rating on the stock in a research report on Friday, May 24th. Seven equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Zscaler presently has an average rating of Moderate Buy and an average price target of $223.85.

Check Out Our Latest Research Report on ZS

Zscaler Stock Performance

NASDAQ:ZS opened at $169.96 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The firm has a 50-day moving average price of $178.17 and a two-hundred day moving average price of $204.70. Zscaler has a twelve month low of $128.12 and a twelve month high of $259.61. The company has a market capitalization of $25.48 billion, a P/E ratio of -333.25 and a beta of 0.85.

Zscaler (NASDAQ:ZSGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 6.31%. As a group, research analysts expect that Zscaler will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Remo Canessa sold 7,707 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Remo Canessa sold 7,707 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,715 shares of company stock valued at $2,455,902. 19.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. Cambridge Trust Co. raised its holdings in Zscaler by 133.3% during the 1st quarter. Cambridge Trust Co. now owns 700 shares of the company’s stock worth $135,000 after buying an additional 400 shares during the period. Teachers Retirement System of The State of Kentucky acquired a new stake in Zscaler during the 1st quarter worth about $3,877,000. Cetera Advisors LLC raised its holdings in Zscaler by 146.7% during the 1st quarter. Cetera Advisors LLC now owns 8,079 shares of the company’s stock worth $1,556,000 after buying an additional 4,804 shares during the period. Cetera Investment Advisers raised its holdings in Zscaler by 895.1% during the 1st quarter. Cetera Investment Advisers now owns 31,395 shares of the company’s stock worth $6,048,000 after buying an additional 28,240 shares during the period. Finally, PGGM Investments acquired a new stake in Zscaler during the 1st quarter worth about $791,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Company Profile

(Get Free Report)

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.

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