Zscaler (NASDAQ:ZS) PT Lowered to $165.00 at Loop Capital

Zscaler (NASDAQ:ZS) had its target price reduced by Loop Capital from $180.00 to $165.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts also recently issued reports on ZS. Stifel Nicolaus decreased their price objective on shares of Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a report on Thursday, May 16th. Needham & Company LLC lowered their price objective on Zscaler from $290.00 to $235.00 and set a strong-buy rating on the stock in a report on Wednesday. Morgan Stanley increased their target price on Zscaler from $202.00 to $215.00 and gave the company an equal weight rating in a report on Monday, August 26th. UBS Group lowered their price target on Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a research note on Wednesday, May 29th. Finally, Scotiabank reduced their price objective on Zscaler from $250.00 to $210.00 and set a sector outperform rating for the company in a research note on Friday, May 31st. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of Moderate Buy and an average target price of $218.39.

Zscaler Stock Down 3.4 %

ZS stock opened at $156.78 on Wednesday. The firm’s fifty day moving average is $187.65 and its 200 day moving average is $187.23. The firm has a market cap of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. Zscaler has a one year low of $146.59 and a one year high of $259.61. 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 (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. Zscaler’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. On average, research analysts forecast that Zscaler will post -0.38 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 243,486 shares in the company, valued at approximately $43,148,154.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ZS. Vanguard Group Inc. increased its position in Zscaler by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the period. 1832 Asset Management L.P. purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $217,683,000. Mirae Asset Global Investments Co. Ltd. raised its position in Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after acquiring an additional 102,616 shares in the last quarter. Norges Bank acquired a new stake in Zscaler in the fourth quarter valued at $117,599,000. Finally, Bank of New York Mellon Corp lifted its holdings in Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares during the period. 46.45% of the stock is 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.