Zscaler (NASDAQ:ZS) PT Lowered to $281.00

Zscaler (NASDAQ:ZSGet Rating) had its target price trimmed by The Goldman Sachs Group from $326.00 to $281.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

Several other research firms have also issued reports on ZS. BMO Capital Markets reduced their target price on shares of Zscaler from $415.00 to $270.00 and set an outperform rating for the company in a research note on Friday, February 25th. Stifel Nicolaus reduced their price target on shares of Zscaler from $310.00 to $300.00 and set a buy rating for the company in a research report on Monday, March 21st. JMP Securities started coverage on shares of Zscaler in a research report on Tuesday, February 22nd. They set a market perform rating and a $350.00 price target for the company. Piper Sandler reduced their price target on shares of Zscaler from $365.00 to $295.00 in a research report on Thursday, January 6th. Finally, Bank of America reduced their price target on shares of Zscaler from $390.00 to $330.00 and set a buy rating for the company in a research report on Friday, February 25th. 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, the company presently has an average rating of Buy and an average price target of $317.45.

NASDAQ ZS opened at $223.00 on Tuesday. Zscaler has a 1 year low of $157.03 and a 1 year high of $376.11. The company has a debt-to-equity ratio of 1.74, a current ratio of 2.38 and a quick ratio of 2.38. The firm has a market cap of $31.46 billion, a price-to-earnings ratio of -93.70 and a beta of 1.00. The company has a fifty day moving average price of $238.81 and a 200-day moving average price of $277.68.

Zscaler (NASDAQ:ZSGet Rating) last posted its earnings results on Thursday, February 24th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.57) by ($0.03). Zscaler had a negative return on equity of 51.11% and a negative net margin of 38.47%. The firm had revenue of $255.56 million during the quarter, compared to the consensus estimate of $241.87 million. During the same quarter in the previous year, the company earned ($0.39) EPS. The business’s revenue was up 62.7% compared to the same quarter last year. On average, research analysts anticipate that Zscaler will post -2.34 EPS for the current fiscal year.

In related news, insider Robert Schlossman sold 3,157 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total value of $641,155.13. The sale was disclosed in a filing with the SEC, which is available through this link. Also, President Amit Sinha sold 7,358 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total transaction of $1,494,336.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,779 shares of company stock worth $7,896,977. Insiders own 20.30% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in ZS. Norges Bank bought a new position in Zscaler during the fourth quarter valued at approximately $202,020,000. Capital Research Global Investors grew its position in Zscaler by 18.7% during the fourth quarter. Capital Research Global Investors now owns 3,117,454 shares of the company’s stock valued at $1,001,731,000 after acquiring an additional 490,831 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Zscaler by 20.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,773,065 shares of the company’s stock valued at $464,933,000 after acquiring an additional 300,446 shares during the last quarter. First Trust Advisors LP grew its position in Zscaler by 27.4% during the fourth quarter. First Trust Advisors LP now owns 1,293,179 shares of the company’s stock valued at $415,537,000 after acquiring an additional 278,180 shares during the last quarter. Finally, ProShare Advisors LLC grew its position in Zscaler by 5,657.1% during the fourth quarter. ProShare Advisors LLC now owns 237,481 shares of the company’s stock valued at $76,310,000 after acquiring an additional 233,356 shares during the last quarter. 43.41% of the stock is currently owned by institutional investors and hedge funds.

About Zscaler (Get Rating)

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.

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