Zscaler (NASDAQ:ZS) Price Target Cut to $180.00 by Analysts at Wells Fargo & Company

Zscaler (NASDAQ:ZS) had its price target decreased by Wells Fargo & Company from $182.00 to $180.00 in a research report report published on Wednesday, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on ZS. Stifel Nicolaus cut their price objective on Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a research report on Thursday, May 16th. Susquehanna reduced their price target on Zscaler from $275.00 to $210.00 and set a positive rating on the stock in a research note on Friday, May 31st. UBS Group lowered their price objective on Zscaler from $300.00 to $270.00 and set a buy rating for the company in a research report on Wednesday, May 29th. Mizuho downgraded shares of Zscaler from an outperform rating to a neutral rating and set a $220.00 target price on the stock. in a research report on Tuesday, July 16th. Finally, Barclays lowered their price target on shares of Zscaler from $230.00 to $200.00 and set an overweight rating for the company in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average 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 quick ratio of 1.75 and a current ratio of 1.75. The stock has a market cap of $23.75 billion, a P/E ratio of -308.10 and a beta of 0.85. The stock has a 50 day simple moving average of $188.90 and a two-hundred day simple moving average of $188.50. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share 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 business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. On average, analysts forecast that Zscaler will post -0.32 earnings per share for the current year.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at approximately $43,148,154.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently made changes to their positions in the business. Quest Partners LLC purchased a new position in shares of Zscaler during the 2nd quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in Zscaler in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC raised its stake in Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the period. Asset Dedication LLC raised its position in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the period. Finally, American Capital Advisory LLC purchased a new position in shares of Zscaler during the 2nd quarter valued at $50,000. Hedge funds and other institutional investors 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.