Robert W. Baird Cuts Zscaler (NASDAQ:ZS) Price Target to $225.00

Zscaler (NASDAQ:ZS) had its price objective cut by Robert W. Baird from $260.00 to $225.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts also recently commented on the stock. JPMorgan Chase & Co. raised shares of Zscaler from a neutral rating to an overweight rating and boosted their price objective for the stock from $205.00 to $230.00 in a report on Friday, June 14th. Stifel Nicolaus reduced their price target 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 upped their price target on shares of Zscaler from $210.00 to $230.00 and gave the company an overweight rating in a report on Monday, August 26th. UBS Group reduced their price target on shares of Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Finally, Citigroup reduced their price target on shares of Zscaler from $270.00 to $240.00 and set a buy rating on the stock in a report on Wednesday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler currently has a consensus rating of Moderate Buy and a consensus target price of $218.39.

Zscaler Stock Down 3.4 %

ZS stock opened at $156.78 on Wednesday. The company has a market cap of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82. Zscaler has a 52 week low of $146.59 and a 52 week high of $259.61. The company’s 50-day moving average price is $187.65 and its 200 day moving average price is $187.65. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, research analysts expect that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

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

Institutional Investors Weigh In On Zscaler

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp grew its holdings in Zscaler by 16.4% during the 4th quarter. Van ECK Associates Corp now owns 957 shares of the company’s stock valued at $212,000 after purchasing an additional 135 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Zscaler by 2.7% during the 4th quarter. Victory Capital Management Inc. now owns 119,369 shares of the company’s stock valued at $26,447,000 after purchasing an additional 3,119 shares in the last quarter. New York Life Investment Management LLC grew its holdings in Zscaler by 12.8% during the 4th quarter. New York Life Investment Management LLC now owns 1,555 shares of the company’s stock valued at $345,000 after purchasing an additional 176 shares in the last quarter. Fisher Asset Management LLC grew its holdings in Zscaler by 2.0% during the 4th quarter. Fisher Asset Management LLC now owns 14,195 shares of the company’s stock valued at $3,145,000 after purchasing an additional 275 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Zscaler by 18.4% during the 4th quarter. Amalgamated Bank now owns 11,038 shares of the company’s stock valued at $2,446,000 after acquiring an additional 1,715 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Zscaler

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.