JPMorgan Chase & Co. Cuts Zscaler (NASDAQ:ZS) Price Target to $220.00

Zscaler (NASDAQ:ZS) had its target price trimmed by JPMorgan Chase & Co. from $230.00 to $220.00 in a research report released on Wednesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other research analysts have also recently weighed in on the company. Morgan Stanley raised their price target on Zscaler from $202.00 to $215.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Robert W. Baird cut their target price on shares of Zscaler from $260.00 to $225.00 and set an outperform rating for the company in a research report on Wednesday. Rosenblatt Securities reiterated a neutral rating and issued a $190.00 price target on shares of Zscaler in a research report on Tuesday, May 28th. Stifel Nicolaus restated a buy rating and set a $220.00 price objective on shares of Zscaler in a research report on Wednesday. Finally, Loop Capital lowered their target price on Zscaler from $180.00 to $165.00 and set a hold rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $218.39.

Zscaler Stock Performance

NASDAQ:ZS opened at $156.78 on Wednesday. The firm’s fifty day simple moving average is $187.65 and its 200-day simple moving average is $187.23. 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 PE ratio of -307.41 and a beta of 0.82. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to analyst estimates 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 for the quarter was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. Analysts expect that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total value of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the stock. Spire Wealth Management raised its stake in Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after buying an additional 49 shares in the last quarter. US Bancorp DE increased its holdings in shares of Zscaler by 0.3% in the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after acquiring an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the last quarter. Kovack Advisors Inc. lifted its stake in Zscaler by 3.4% during the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after purchasing an additional 67 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 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.