Zscaler (NASDAQ:ZS) PT Lowered to $230.00

Zscaler (NASDAQ:ZS) had its price target lowered by investment analysts at Oppenheimer from $260.00 to $230.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 41.76% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Loop Capital cut their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday. Morgan Stanley increased their price target on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th. JPMorgan Chase & Co. upgraded Zscaler from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $205.00 to $230.00 in a research report on Friday, June 14th. UBS Group decreased their target price on Zscaler from $300.00 to $270.00 and set a “buy” rating on the stock in a report on Wednesday, May 29th. Finally, Citigroup cut their price target on Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Nine investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $217.41.

Zscaler Stock Up 3.3 %

NASDAQ ZS opened at $162.25 on Wednesday. Zscaler has a 1-year low of $146.59 and a 1-year high of $259.61. The company has a market capitalization of $24.52 billion, a price-to-earnings ratio of -318.14 and a beta of 0.85. The stock’s 50 day moving average is $188.36 and its two-hundred day moving average is $188.32. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. Equities analysts forecast that Zscaler will post -0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total value of $848,380.77. Following the completion of the transaction, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZS. Vanguard Group Inc. raised its stake in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the period. 1832 Asset Management L.P. bought a new position in shares of Zscaler during the fourth quarter worth about $217,683,000. Mirae Asset Global Investments Co. Ltd. raised its position in Zscaler by 19.9% in the 1st 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 last quarter. Norges Bank bought a new stake in Zscaler in the 4th quarter valued at approximately $117,599,000. Finally, Bank of New York Mellon Corp boosted its position in 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 acquiring an additional 25,181 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.