Zscaler (NASDAQ:ZS) Price Target Cut to $215.00

Zscaler (NASDAQ:ZS) had its price objective cut by investment analysts at Piper Sandler from $255.00 to $215.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 32.51% from the company’s previous close.

Several other research firms have also commented on ZS. Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday. Needham & Company LLC lowered their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a report on Wednesday. Susquehanna cut their price target on Zscaler from $275.00 to $210.00 and set a “positive” rating for the company in a report on Friday, May 31st. BMO Capital Markets decreased their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Raymond James assumed coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They issued a “market perform” rating for the company. Nine 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $217.41.

Zscaler Stock Performance

NASDAQ ZS opened at $162.25 on Wednesday. The business has a 50 day moving average price of $188.36 and a 200 day moving average price of $188.32. 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 market capitalization of $24.52 billion, a P/E ratio of -318.14 and a beta of 0.85. Zscaler has a 1-year low of $146.59 and a 1-year 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 (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.17) EPS. Sell-side analysts expect that Zscaler will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

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 transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 19.20% of the stock is owned by corporate insiders.

Institutional Trading of Zscaler

Several large investors have recently bought and sold shares of the company. Quest Partners LLC acquired a new position in shares of Zscaler during the second quarter worth $28,000. Jones Financial Companies Lllp acquired a new position in Zscaler in the 4th quarter worth $29,000. Quadrant Capital Group LLC boosted its position in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the last quarter. Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new stake in shares of Zscaler during the second quarter worth about $50,000. Institutional investors and hedge funds 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.