Zscaler (NASDAQ:ZS) PT Lowered to $215.00 at Piper Sandler

Zscaler (NASDAQ:ZS) had its price target lowered by Piper Sandler from $255.00 to $215.00 in a research report released on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Several other analysts have also recently commented on ZS. UBS Group reduced their price target on Zscaler from $300.00 to $270.00 and set a buy rating for the company in a report on Wednesday, May 29th. JMP Securities reissued a market outperform rating and issued a $270.00 target price on shares of Zscaler in a report on Monday, June 17th. Wells Fargo & Company lowered their price target on shares of Zscaler from $182.00 to $180.00 and set an equal weight rating on the stock in a research note on Wednesday. Cantor Fitzgerald decreased their price objective on shares of Zscaler from $200.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday. Finally, Stifel Nicolaus reaffirmed a buy rating and issued a $220.00 target price on shares of Zscaler in a report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of Moderate Buy and a consensus target price of $218.39.

Zscaler Price Performance

Zscaler stock opened at $156.78 on Wednesday. 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 business has a 50 day simple moving average of $187.65 and a 200-day simple moving average of $187.23. Zscaler has a 12 month low of $146.59 and a 12 month high of $259.61. The stock has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82.

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

Insider Buying and Selling

In other news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction 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 approximately $45,497,924.31. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 19.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jones Financial Companies Lllp purchased a new stake in shares of Zscaler during the 4th quarter valued at $29,000. Quest Partners LLC purchased a new stake in Zscaler during the second quarter valued at about $28,000. Quadrant Capital Group LLC increased its stake in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the last quarter. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, Spire Wealth Management lifted its stake in shares of Zscaler by 24.5% in the 4th quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after purchasing an additional 49 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.