Zscaler (NASDAQ:ZS) Given New $170.00 Price Target at Cantor Fitzgerald

Zscaler (NASDAQ:ZS) had its price target lowered by Cantor Fitzgerald from $200.00 to $170.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. Susquehanna reduced their target price on shares of Zscaler from $275.00 to $210.00 and set a positive rating for the company in a research note on Friday, May 31st. Sanford C. Bernstein decreased their price objective on Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a report on Friday, May 31st. Robert W. Baird cut their target price on Zscaler from $260.00 to $225.00 and set an outperform rating on the stock in a research note on Wednesday. Citigroup reduced their price target on Zscaler from $270.00 to $240.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Finally, Scotiabank lowered their price objective on shares of Zscaler from $250.00 to $210.00 and set a sector outperform rating on the stock in a report on Friday, May 31st. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $217.41.

Zscaler Trading Down 18.7 %

NASDAQ:ZS opened at $157.13 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’s 50-day simple moving average is $188.90 and its 200-day simple moving average is $188.50. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The stock has a market capitalization of $23.75 billion, a PE ratio of -308.10 and a beta of 0.85.

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 analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Sell-side analysts expect that Zscaler will post -0.32 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 business’s stock in a transaction dated 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 of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the business. Truist Financial Corp grew its position in shares of Zscaler by 137.3% during the 2nd quarter. Truist Financial Corp now owns 2,572 shares of the company’s stock worth $494,000 after purchasing an additional 1,488 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in Zscaler by 166.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 10,012 shares of the company’s stock worth $1,924,000 after buying an additional 6,251 shares in the last quarter. Quarry LP increased its stake in Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after acquiring an additional 331 shares during the period. Capital Impact Advisors LLC acquired a new position in Zscaler in the 2nd quarter valued at $866,000. Finally, Creative Planning lifted its position in shares of Zscaler by 11.3% during the 2nd quarter. Creative Planning now owns 137,983 shares of the company’s stock valued at $26,519,000 after acquiring an additional 13,978 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.