Piper Sandler Trims Zscaler (NASDAQ:ZS) Target Price to $215.00

Zscaler (NASDAQ:ZS) had its price objective lowered by Piper Sandler from $255.00 to $215.00 in a research note published on Wednesday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other research firms also recently weighed in on ZS. Oppenheimer reaffirmed an outperform rating and set a $260.00 price objective (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. UBS Group reduced their target price on Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Wells Fargo & Company reduced their target price on Zscaler from $182.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday. Scotiabank reduced their target price on Zscaler from $210.00 to $195.00 and set a sector outperform rating on the stock in a report on Wednesday. Finally, BTIG Research reduced their target price on Zscaler from $220.00 to $205.00 and set a buy rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $218.39.

Zscaler Trading Down 3.4 %

Zscaler stock opened at $156.78 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $23.70 billion, a price-to-earnings ratio of -307.41 and a beta of 0.82. Zscaler has a one year low of $146.59 and a one year high of $259.61. The company’s fifty day moving average price is $187.65 and its two-hundred day moving average price is $187.65.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same period last year, the business posted ($0.17) earnings per share. On average, analysts forecast that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the transaction, the chief financial officer now owns 243,486 shares in the company, valued at approximately $43,148,154.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after acquiring an additional 118,002 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Zscaler in the 4th quarter valued at about $217,683,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Zscaler by 19.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after acquiring an additional 102,616 shares in the last quarter. Norges Bank bought a new position in shares of Zscaler in the 4th quarter valued at about $117,599,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

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.