Zscaler (NASDAQ:ZS) PT Lowered to $195.00 at Scotiabank

Zscaler (NASDAQ:ZS) had its price target cut by Scotiabank from $210.00 to $195.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a sector outperform rating on the stock.

A number of other equities research analysts have also recently weighed in on ZS. Wells Fargo & Company cut their price objective on shares of Zscaler from $182.00 to $180.00 and set an equal weight rating on the stock in a research note on Wednesday. BTIG Research cut their price objective on shares of Zscaler from $258.00 to $220.00 and set a buy rating on the stock in a research note on Friday, May 31st. Morgan Stanley boosted their price target on shares of Zscaler from $202.00 to $215.00 and gave the stock an equal weight rating in a research report on Monday, August 26th. BMO Capital Markets dropped their price target on shares of Zscaler from $208.00 to $197.00 and set an outperform rating on the stock in a research report on Wednesday. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $218.39.

Zscaler Price Performance

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

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

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new position in shares of Zscaler during the fourth quarter worth approximately $29,000. Quest Partners LLC acquired a new position in shares of Zscaler during the second quarter worth approximately $28,000. Quadrant Capital Group LLC lifted its holdings in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after buying an additional 49 shares during the last quarter. Institutional investors 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.