Zscaler (NASDAQ:ZS) PT Lowered to $250.00

Zscaler (NASDAQ:ZS – Get Rating) had its price target decreased by Truist Financial from $275.00 to $250.00 in a report published on Tuesday morning, The Fly reports. Truist Financial currently has a buy rating on the stock.

A number of other research firms have also issued reports on ZS. Canaccord Genuity Group lowered their target price on Zscaler from $320.00 to $210.00 in a report on Friday, May 27th. Mizuho reissued a buy rating and set a $210.00 price objective on shares of Zscaler in a report on Friday, May 27th. Cowen decreased their price objective on Zscaler from $405.00 to $194.00 and set a buy rating on the stock in a report on Friday, May 27th. BMO Capital Markets decreased their price target on Zscaler from $270.00 to $172.00 in a research note on Friday, May 27th. Finally, Wells Fargo & Company cut their price objective on Zscaler from $350.00 to $200.00 and set a na rating for the company in a research report on Monday, May 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, Zscaler presently has an average rating of Moderate Buy and a consensus target price of $246.65.

Zscaler Trading Up 2.9 %

NASDAQ:ZS opened at $153.06 on Tuesday. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 1.80. Zscaler has a 1-year low of $125.12 and a 1-year high of $376.11. The firm has a market capitalization of $21.71 billion, a price-to-earnings ratio of -57.33 and a beta of 1.09. The stock has a fifty day simple moving average of $152.73 and a 200 day simple moving average of $201.89.

Zscaler (NASDAQ:ZS – Get Rating) last issued its quarterly earnings data on Thursday, May 26th. The company reported ($0.61) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.02. The business had revenue of $286.81 million for the quarter, compared to the consensus estimate of $271.47 million. Zscaler had a negative return on equity of 58.37% and a negative net margin of 38.52%. The firm’s revenue was up 62.6% compared to the same quarter last year. During the same period last year, the business earned ($0.30) EPS. Sell-side analysts forecast that Zscaler will post -2.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 239 shares of Zscaler stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $150.00, for a total value of $35,850.00. Following the completion of the sale, the insider now directly owns 112,622 shares of the company’s stock, valued at $16,893,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Zscaler news, insider Robert Schlossman sold 239 shares of Zscaler stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $150.00, for a total transaction of $35,850.00. Following the completion of the sale, the insider now directly owns 112,622 shares of the company’s stock, valued at approximately $16,893,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Dali Rajic sold 25,000 shares of Zscaler stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $155.80, for a total value of $3,895,000.00. Following the sale, the chief operating officer now directly owns 231,574 shares of the company’s stock, valued at $36,079,229.20. The disclosure for this sale can be found here. Insiders sold a total of 49,710 shares of company stock valued at $7,275,302 over the last quarter. 20.30% of the stock is owned by insiders.

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors lifted its stake in Zscaler by 40.4% in the 1st quarter. Capital Research Global Investors now owns 4,377,330 shares of the company’s stock valued at $1,056,162,000 after buying an additional 1,259,876 shares in the last quarter. First Trust Advisors LP raised its position in shares of Zscaler by 75.2% in the 1st quarter. First Trust Advisors LP now owns 2,265,816 shares of the company’s stock worth $546,696,000 after buying an additional 972,637 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Zscaler in the 1st quarter worth $168,365,000. Norges Bank acquired a new stake in Zscaler in the 4th quarter valued at $202,020,000. Finally, Scge Management L.P. acquired a new stake in Zscaler in the 1st quarter valued at $141,873,000. Institutional investors and hedge funds own 43.41% of the company’s stock.

Zscaler Company Profile

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Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.