Zscaler (NASDAQ:ZS) Price Target Cut to $220.00 by Analysts at Mizuho

Zscaler (NASDAQ:ZSFree Report) had its target price trimmed by Mizuho from $240.00 to $220.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other equities analysts have also issued research reports about the stock. UBS Group cut their price objective on shares of Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a report on Wednesday. Stifel Nicolaus cut their price objective on shares of Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a report on Thursday, May 16th. Barclays cut their price objective on shares of Zscaler from $240.00 to $205.00 and set an overweight rating on the stock in a report on Monday, May 20th. The Goldman Sachs Group boosted their price objective on shares of Zscaler from $189.00 to $215.00 and gave the stock a neutral rating in a report on Monday, March 4th. Finally, Rosenblatt Securities restated a neutral rating and issued a $190.00 target price on shares of Zscaler in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $223.85.

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Zscaler Stock Up 8.5 %

Shares of Zscaler stock opened at $169.96 on Friday. The company has a fifty day moving average price of $178.17 and a 200 day moving average price of $204.57. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler has a twelve month low of $128.12 and a twelve month high of $259.61. The stock has a market cap of $25.48 billion, a price-to-earnings ratio of -333.25 and a beta of 0.85.

Zscaler (NASDAQ:ZSGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 3.62% and a negative return on equity of 6.31%. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. Equities research analysts forecast that Zscaler will post -0.8 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the 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 $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders sold 12,715 shares of company stock worth $2,455,902 over the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ZS. Principal Financial Group Inc. boosted its holdings in Zscaler by 3.5% during the third quarter. Principal Financial Group Inc. now owns 10,790 shares of the company’s stock worth $1,679,000 after buying an additional 363 shares in the last quarter. Private Advisor Group LLC purchased a new stake in shares of Zscaler in the 3rd quarter valued at approximately $229,000. Victory Capital Management Inc. lifted its position in shares of Zscaler by 43.7% in the 3rd quarter. Victory Capital Management Inc. now owns 116,250 shares of the company’s stock valued at $18,087,000 after acquiring an additional 35,329 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Zscaler by 70.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,837 shares of the company’s stock valued at $2,308,000 after acquiring an additional 6,154 shares in the last quarter. Finally, Metis Global Partners LLC purchased a new stake in shares of Zscaler in the 3rd quarter valued at approximately $219,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Company Profile

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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.

Further Reading

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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