BMO Capital Markets Lowers Zscaler (NASDAQ:ZS) Price Target to $197.00

Zscaler (NASDAQ:ZS) had its price objective reduced by analysts at BMO Capital Markets from $208.00 to $197.00 in a research report issued on Wednesday, MarketBeat reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 21.42% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research note on Tuesday, May 28th. Scotiabank lowered their price objective on Zscaler from $250.00 to $210.00 and set a “sector outperform” rating for the company in a research report on Friday, May 31st. Susquehanna cut their target price on shares of Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a research report on Friday, May 31st. Barclays raised their target price on shares of Zscaler from $210.00 to $230.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Finally, Loop Capital dropped their price target on shares of Zscaler from $225.00 to $180.00 and set a “hold” rating for the company in a research note on Friday, May 31st. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $217.41.

Zscaler Stock Up 3.3 %

Shares of NASDAQ ZS opened at $162.25 on Wednesday. Zscaler has a 12-month low of $146.59 and a 12-month high of $259.61. The firm’s 50-day simple moving average is $188.36 and its 200 day simple moving average is $188.32. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a market cap of $24.52 billion, a price-to-earnings ratio of -318.14 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the prior year, the business earned ($0.17) earnings per share. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. On average, research analysts expect that Zscaler will post -0.32 earnings per share 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 that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. Vanguard Group Inc. grew its holdings 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 acquiring an additional 118,002 shares during the period. 1832 Asset Management L.P. bought a new stake in Zscaler in the fourth quarter worth approximately $217,683,000. Mirae Asset Global Investments Co. Ltd. lifted its stake 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 valued at $119,294,000 after buying an additional 102,616 shares during the period. Norges Bank bought a new position in shares of Zscaler during the 4th quarter worth approximately $117,599,000. Finally, Bank of New York Mellon Corp grew its position in shares of Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after buying an additional 25,181 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.