Scotiabank Trims Zscaler (NASDAQ:ZS) Target Price to $195.00

Zscaler (NASDAQ:ZS) had its price objective lowered by Scotiabank from $210.00 to $195.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other research analysts have also recently weighed in on ZS. Mizuho cut Zscaler from an outperform rating to a neutral rating and set a $220.00 price objective on the stock. in a research report on Tuesday, July 16th. Needham & Company LLC decreased their price objective on shares of Zscaler from $290.00 to $235.00 and set a strong-buy rating for the company in a report on Wednesday. Rosenblatt Securities reiterated a neutral rating and issued a $190.00 target price on shares of Zscaler in a research note on Tuesday, May 28th. Morgan Stanley raised their price target on shares of Zscaler from $202.00 to $215.00 and gave the stock an equal weight rating in a research note on Monday, August 26th. Finally, Stifel Nicolaus dropped their price objective on Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a research note on Thursday, May 16th. Nine research 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. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $217.41.

Zscaler Stock Performance

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 company has a fifty day moving average price of $188.90 and a 200-day moving average price of $188.50. Zscaler has a 1 year low of $146.59 and a 1 year high of $259.61. The firm has a market cap of $23.75 billion, a price-to-earnings ratio of -308.10 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data 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 net margin of 3.62% and a negative return on equity of 5.84%. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the business posted ($0.17) EPS. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. As a group, equities research analysts predict that Zscaler will post -0.32 EPS for the current fiscal year.

Insider Transactions at Zscaler

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 in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently added to or reduced their stakes in the company. Sierra Summit Advisors LLC bought a new position in shares of Zscaler during the 4th quarter valued at about $5,609,000. State Board of Administration of Florida Retirement System grew its position in Zscaler by 6.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after acquiring an additional 6,683 shares during the last quarter. Norges Bank bought a new position in Zscaler during the fourth quarter valued at approximately $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after acquiring an additional 9,689 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC lifted its holdings in shares of Zscaler by 40.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock worth $470,000 after acquiring an additional 696 shares during the last quarter. Institutional investors 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.