Zscaler (NASDAQ:ZS) Price Target Cut to $200.00 by Analysts at Cantor Fitzgerald

Zscaler (NASDAQ:ZSFree Report) had its price objective reduced by Cantor Fitzgerald from $230.00 to $200.00 in a report issued on Friday, Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on ZS. JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $212.00 to $240.00 and gave the company a neutral rating in a report on Monday, February 26th. The Goldman Sachs Group increased their target price on Zscaler from $189.00 to $215.00 and gave the stock a neutral rating in a research note on Monday, March 4th. KeyCorp upgraded shares of Zscaler from a sector weight rating to an overweight rating and set a $220.00 price target for the company in a report on Thursday, April 18th. Oppenheimer reaffirmed an outperform rating and issued a $260.00 price objective (down from $290.00) on shares of Zscaler in a research report on Friday. Finally, Needham & Company LLC restated a strong-buy rating and issued a $290.00 price target on shares of Zscaler in a report on Friday. Seven equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $223.85.

Get Our Latest Stock Analysis on ZS

Zscaler Stock Up 8.5 %

NASDAQ ZS opened at $169.96 on Friday. The stock has a market capitalization of $25.48 billion, a P/E ratio of -333.25 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. Zscaler has a 52 week low of $128.12 and a 52 week high of $259.61. The stock has a fifty day moving average of $178.17 and a 200-day moving average of $204.57.

Zscaler (NASDAQ:ZSGet Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. The company had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 6.31%. On average, equities research analysts forecast that Zscaler will post -0.8 EPS for the current year.

Insider Activity at Zscaler

In other news, CFO Remo Canessa sold 7,707 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Remo Canessa sold 7,707 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares in the company, valued at approximately $49,435,390.45. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Syam Nair sold 2,893 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. Insiders sold a total of 12,715 shares of company stock valued at $2,455,902 over the last quarter. 19.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC acquired a new stake in Zscaler in the fourth quarter worth $9,674,000. Nordea Investment Management AB grew its holdings in shares of Zscaler by 463.5% during the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after buying an additional 24,514 shares during the last quarter. Norges Bank bought a new stake in Zscaler during the 4th quarter worth approximately $117,599,000. Vanguard Group Inc. lifted its holdings in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after purchasing an additional 129,090 shares in the last quarter. Finally, Beacon Pointe Advisors LLC grew its holdings in Zscaler by 41.2% during the fourth quarter. Beacon Pointe Advisors LLC now owns 9,170 shares of the company’s stock worth $2,032,000 after buying an additional 2,677 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Company Profile

(Get Free Report)

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.

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