Zscaler (NASDAQ:ZS) Stock Price Down 1.5%

Zscaler, Inc. (NASDAQ:ZS)’s stock price fell 1.5% during mid-day trading on Tuesday . The stock traded as low as $195.32 and last traded at $195.58. 481,621 shares traded hands during trading, a decline of 79% from the average session volume of 2,258,120 shares. The stock had previously closed at $198.62.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ZS shares. Stifel Nicolaus decreased their target price on Zscaler from $270.00 to $220.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Canaccord Genuity Group reduced their price target on shares of Zscaler from $260.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $290.00 price objective 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 for the company in a research note on Friday, May 31st. Finally, JMP Securities restated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Monday, June 17th. Six analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Stock Performance

The business’s 50-day moving average is $178.25 and its two-hundred day moving average is $202.29. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. On average, analysts forecast that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In related news, CFO Remo Canessa sold 7,981 shares of the company’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 transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. 1832 Asset Management L.P. acquired a new stake in Zscaler during the fourth quarter worth approximately $217,683,000. Norges Bank bought a new stake in Zscaler in the 4th quarter valued at $117,599,000. Polar Capital Holdings Plc bought a new position in Zscaler during the 3rd quarter worth $61,681,000. Trivest Advisors Ltd acquired a new stake in shares of Zscaler during the fourth quarter worth $72,051,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Zscaler in the first quarter valued at about $47,217,000. 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.