Zscaler (NASDAQ:ZS) had its price objective dropped by equities researchers at UBS Group from $70.00 to $53.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 7.99% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. Berenberg Bank assumed coverage on Zscaler in a report on Friday, May 31st. They set a “hold” rating and a $78.00 target price for the company. OTR Global downgraded Zscaler from a “mixed” rating to a “negative” rating in a report on Monday, August 19th. Robert W. Baird dropped their target price on Zscaler from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Wednesday. Zacks Investment Research downgraded Zscaler from a “buy” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Bank of America set a $77.00 target price on Zscaler and gave the stock a “neutral” rating in a report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Zscaler currently has an average rating of “Hold” and a consensus price target of $67.50.
Zscaler stock traded down $0.59 during mid-day trading on Thursday, hitting $49.08. 1,485,252 shares of the company’s stock traded hands, compared to its average volume of 2,385,337. The firm has a 50 day simple moving average of $76.08 and a two-hundred day simple moving average of $72.13. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54. The stock has a market cap of $7.79 billion, a price-to-earnings ratio of -158.32 and a beta of 1.29.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The business had revenue of $86.11 million during the quarter, compared to the consensus estimate of $82.15 million. Equities research analysts forecast that Zscaler will post -0.17 EPS for the current year.
In related news, insider Manoj Apte sold 95,544 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $84.91, for a total value of $8,112,641.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Amit Sinha sold 4,807 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $65.52, for a total value of $314,954.64. Following the completion of the transaction, the insider now directly owns 127,664 shares of the company’s stock, valued at approximately $8,364,545.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 189,774 shares of company stock valued at $15,730,959. 27.40% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Tortoise Index Solutions LLC bought a new position in Zscaler in the first quarter valued at about $25,000. CSat Investment Advisory L.P. bought a new position in Zscaler in the second quarter valued at about $25,000. FTB Advisors Inc. bought a new position in Zscaler in the first quarter valued at about $26,000. Nisa Investment Advisors LLC bought a new position in Zscaler in the first quarter valued at about $28,000. Finally, Meadow Creek Investment Management LLC bought a new position in Zscaler in the second quarter valued at about $32,000. 33.49% of the stock is owned by institutional investors and hedge funds.
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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