Loop Capital Trims Zscaler (NASDAQ:ZS) Target Price to $165.00

Zscaler (NASDAQ:ZS) had its price objective cut by Loop Capital from $180.00 to $165.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

Several other research analysts have also recently issued reports on ZS. Citigroup dropped their target price on Zscaler from $270.00 to $240.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Morgan Stanley boosted their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Stifel Nicolaus decreased their price target on shares of Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a research report on Thursday, May 16th. JMP Securities reissued a market outperform rating and set a $270.00 price objective on shares of Zscaler in a research report on Monday, June 17th. Finally, Rosenblatt Securities reaffirmed a neutral rating and issued a $190.00 target price on shares of Zscaler in a report on Tuesday, May 28th. Nine investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $217.41.

Zscaler Stock Performance

Shares of ZS stock opened at $157.13 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a 50 day moving average price of $188.90 and a 200-day moving average price of $188.50. Zscaler has a 52 week low of $146.59 and a 52 week high of $259.61. The firm has a market capitalization of $23.75 billion, a PE ratio of -308.10 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.62% and a negative return on equity of 5.84%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, equities research analysts expect that Zscaler will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction dated 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 owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. Jones Financial Companies Lllp bought a new position in shares of Zscaler during the 4th quarter valued at approximately $29,000. Quest Partners LLC purchased a new position in Zscaler during the second quarter worth $28,000. Quadrant Capital Group LLC increased its position in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Asset Dedication LLC raised its stake in shares of Zscaler by 436.8% in 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 during the period. Finally, Spire Wealth Management lifted its holdings in shares of Zscaler by 24.5% in the 4th quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after acquiring an additional 49 shares during the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.