Zscaler (NASDAQ:ZS) Price Target Lowered to $220.00 at BTIG Research

Zscaler (NASDAQ:ZSFree Report) had its target price lowered by BTIG Research from $258.00 to $220.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

ZS has been the subject of a number of other research reports. BMO Capital Markets dropped their target price on Zscaler from $255.00 to $192.00 and set an outperform rating for the company in a report on Wednesday. Cantor Fitzgerald reaffirmed a neutral rating and set a $230.00 price objective on shares of Zscaler in a research note on Wednesday, April 17th. Wedbush increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the company an outperform rating in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Zscaler from $189.00 to $215.00 and gave the stock a neutral rating in a research note on Monday, March 4th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Zscaler from $212.00 to $240.00 and gave the stock a neutral rating in a research note on Monday, February 26th. Seven research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $223.85.

Get Our Latest Research Report on ZS

Zscaler Price Performance

Zscaler stock opened at $169.96 on Friday. Zscaler has a 52-week low of $128.12 and a 52-week high of $259.61. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The firm’s fifty day moving average is $178.17 and its 200 day moving average is $204.57. The company 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 announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $507.56 million. Sell-side analysts forecast that Zscaler will post -0.8 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares in the company, valued at approximately $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Insiders have sold a total of 12,715 shares of company stock worth $2,455,902 over the last 90 days. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $217,683,000. Norges Bank acquired a new stake in shares of Zscaler in the 4th quarter worth $117,599,000. Polar Capital Holdings Plc purchased a new position in shares of Zscaler during the 3rd quarter worth $61,681,000. Trivest Advisors Ltd acquired a new position in shares of Zscaler during the 4th quarter valued at about $72,051,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Zscaler in the first quarter valued at about $47,217,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.

See Also

Analyst Recommendations for Zscaler (NASDAQ:ZS)

Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.