Zscaler (NASDAQ:ZS) Price Target Lowered to $195.00 at Scotiabank

Zscaler (NASDAQ:ZS) had its price target lowered by Scotiabank from $210.00 to $195.00 in a research report report published on Wednesday, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other equities research analysts also recently weighed in on ZS. Loop Capital dropped their price target on shares of Zscaler from $180.00 to $165.00 and set a hold rating for the company in a research report on Wednesday. Citigroup decreased their price target on Zscaler from $270.00 to $240.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Rosenblatt Securities reaffirmed a neutral rating and set a $190.00 price objective on shares of Zscaler in a research report on Tuesday, May 28th. JMP Securities restated a market outperform rating and set a $270.00 price objective on shares of Zscaler in a research report on Monday, June 17th. Finally, JPMorgan Chase & Co. raised Zscaler from a neutral rating to an overweight rating and raised their target price for the company from $205.00 to $230.00 in a report on Friday, June 14th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $217.41.

Zscaler Stock Performance

ZS opened at $157.13 on Wednesday. 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 business has a fifty day simple moving average of $188.90 and a 200 day simple moving average of $188.50. Zscaler has a 1 year low of $146.59 and a 1 year high of $259.61. The company has a market capitalization of $23.75 billion, a PE ratio of -308.10 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $592.90 million during 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. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. Research analysts expect that Zscaler will post -0.32 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction dated Thursday, June 20th. The stock was 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 directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Several large investors have recently modified their holdings of ZS. 1832 Asset Management L.P. bought a new stake in Zscaler in the 4th quarter valued at about $217,683,000. Norges Bank bought a new position in shares of Zscaler in the 4th quarter worth $117,599,000. Trivest Advisors Ltd acquired a new stake in Zscaler in the 4th quarter valued at $72,051,000. Quadrature Capital Ltd bought a new stake in Zscaler during the 1st quarter valued at $47,217,000. Finally, Vanguard Group Inc. raised its holdings in Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after buying an additional 206,908 shares during the last quarter. 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.