Zscaler (NASDAQ:ZS) Price Target Cut to $194.00

Zscaler (NASDAQ:ZSGet Rating) had its price target dropped by equities research analysts at Cowen from $405.00 to $194.00 in a note issued to investors on Friday, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on the stock. Cowen’s target price suggests a potential upside of 22.27% from the company’s current price.

A number of other research firms also recently commented on ZS. Robert W. Baird cut their price objective on shares of Zscaler from $300.00 to $200.00 and set an “outperform” rating for the company in a report on Friday. Stephens began coverage on shares of Zscaler in a report on Wednesday. They issued an “overweight” rating and a $200.00 price objective for the company. Royal Bank of Canada cut their price objective on shares of Zscaler from $330.00 to $200.00 in a report on Monday. Citigroup cut their price target on shares of Zscaler from $295.00 to $225.00 in a report on Friday. Finally, Canaccord Genuity Group cut their price target on shares of Zscaler from $320.00 to $210.00 in a report on Friday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $252.45.

Shares of ZS stock traded up $16.53 during mid-day trading on Friday, hitting $158.66. 103,302 shares of the stock were exchanged, compared to its average volume of 2,712,420. The firm has a fifty day moving average of $199.67 and a 200 day moving average of $252.52. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.74. Zscaler has a 52-week low of $125.12 and a 52-week high of $376.11. The company has a market cap of $22.38 billion, a PE ratio of -66.88 and a beta of 1.09.

Zscaler (NASDAQ:ZSGet Rating) last posted its earnings results on Thursday, May 26th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.06. The business had revenue of $286.81 million for the quarter, compared to analyst estimates of $271.47 million. Zscaler had a negative net margin of 38.47% and a negative return on equity of 51.11%. The company’s revenue for the quarter was up 62.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.30) EPS. Equities analysts predict that Zscaler will post -2.34 EPS for the current year.

In other Zscaler news, insider Robert Schlossman sold 3,157 shares of Zscaler stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $203.09, for a total value of $641,155.13. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, President Amit Sinha sold 7,358 shares of Zscaler stock in a transaction 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 valued at $7,896,977. 20.30% of the stock is owned by corporate insiders.

Institutional investors have recently modified their holdings of the company. San Luis Wealth Advisors LLC acquired a new position in shares of Zscaler during the first quarter worth about $30,000. Mascoma Wealth Management LLC acquired a new position in shares of Zscaler during the fourth quarter worth about $31,000. AlphaCentric Advisors LLC purchased a new stake in Zscaler during the fourth quarter worth about $33,000. JFS Wealth Advisors LLC boosted its holdings in Zscaler by 110.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company’s stock worth $34,000 after buying an additional 55 shares in the last quarter. Finally, Arlington Partners LLC boosted its holdings in Zscaler by 122.4% during the first quarter. Arlington Partners LLC now owns 109 shares of the company’s stock worth $26,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 43.41% of the company’s stock.

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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