Zscaler (NASDAQ:ZS) Shares Gap Down After Analyst Downgrade

Shares of Zscaler, Inc. (NASDAQ:ZSGet Rating) gapped down prior to trading on Tuesday after Truist Financial lowered their price target on the stock from $275.00 to $250.00. The stock had previously closed at $156.09, but opened at $149.00. Truist Financial currently has a buy rating on the stock. Zscaler shares last traded at $145.95, with a volume of 12,429 shares traded.

A number of other equities research analysts also recently issued reports on the company. Canaccord Genuity Group lowered their price objective on Zscaler from $320.00 to $210.00 in a research report on Friday, May 27th. Credit Suisse Group lowered their price objective on Zscaler from $410.00 to $310.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. Cowen lowered their price objective on Zscaler from $405.00 to $194.00 and set an “outperform” rating on the stock in a research report on Friday, May 27th. BTIG Research downgraded Zscaler from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, Wells Fargo & Company lowered their price target on Zscaler from $350.00 to $200.00 and set a “na” rating on the stock in a research report on Monday, May 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $246.65.

Insider Activity at Zscaler

In other Zscaler news, President Amit Sinha sold 9,975 shares of the stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $136.67, for a total value of $1,363,283.25. Following the completion of the transaction, the president now owns 266,124 shares in the company, valued at $36,371,167.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Robert Schlossman sold 239 shares of the 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 sale, the insider now directly owns 112,622 shares of the company’s stock, valued at $16,893,300. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Amit Sinha sold 9,975 shares of the stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $136.67, for a total value of $1,363,283.25. Following the completion of the sale, the president now directly owns 266,124 shares in the company, valued at $36,371,167.08. The disclosure for this sale can be found here. Insiders sold a total of 49,710 shares of company stock worth $7,275,302 over the last quarter. 20.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Zscaler by 24.7% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 695,215 shares of the company’s stock worth $103,942,000 after acquiring an additional 137,870 shares during the last quarter. First Citizens Bank & Trust Co. boosted its position in shares of Zscaler by 8.5% during the second quarter. First Citizens Bank & Trust Co. now owns 1,521 shares of the company’s stock valued at $228,000 after buying an additional 119 shares during the last quarter. LaFleur & Godfrey LLC boosted its position in shares of Zscaler by 53.7% during the second quarter. LaFleur & Godfrey LLC now owns 53,180 shares of the company’s stock valued at $7,951,000 after buying an additional 18,574 shares during the last quarter. Sepio Capital LP boosted its position in shares of Zscaler by 3.0% during the second quarter. Sepio Capital LP now owns 6,683 shares of the company’s stock valued at $999,000 after buying an additional 195 shares during the last quarter. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Zscaler during the second quarter valued at $64,000. 43.41% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

The company has a debt-to-equity ratio of 1.80, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $20.14 billion, a PE ratio of -53.16 and a beta of 1.09. The firm has a 50-day moving average of $152.32 and a 200 day moving average of $202.26.

Zscaler (NASDAQ:ZSGet Rating) last released its quarterly earnings data on Thursday, May 26th. The company reported ($0.61) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.02. Zscaler had a negative return on equity of 58.37% and a negative net margin of 38.52%. The company had revenue of $286.81 million for the quarter, compared to analysts’ expectations of $271.47 million. During the same period last year, the firm posted ($0.30) earnings per share. Zscaler’s revenue was up 62.6% compared to the same quarter last year. As a group, research analysts anticipate that Zscaler, Inc. will post -2.31 earnings per share for the current fiscal year.

Zscaler Company Profile

(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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