Zscaler (NASDAQ:ZS) PT Lowered to $230.00 at Oppenheimer

Zscaler (NASDAQ:ZS) had its price objective cut by Oppenheimer from $260.00 to $230.00 in a research note published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also weighed in on ZS. Raymond James started coverage on Zscaler in a research note on Tuesday, July 23rd. They set a market perform rating on the stock. Barclays decreased their target price on Zscaler from $230.00 to $200.00 and set an overweight rating on the stock in a research note on Wednesday. Sanford C. Bernstein decreased their target price on Zscaler from $280.00 to $270.00 and set an outperform rating on the stock in a research note on Friday, May 31st. Scotiabank cut their price target on Zscaler from $210.00 to $195.00 and set a sector outperform rating on the stock in a report on Wednesday. Finally, UBS Group dropped their price objective on Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $218.39.

Zscaler Stock Down 3.4 %

Zscaler stock opened at $156.78 on Wednesday. The stock has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. Zscaler has a 12 month low of $146.59 and a 12 month high of $259.61. The business has a 50 day simple moving average of $187.65 and a 200-day simple moving average of $187.65. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during 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 firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, analysts anticipate that Zscaler will post -0.38 EPS for the current fiscal year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction on 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 transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp acquired a new position in shares of Zscaler during the fourth quarter worth about $29,000. Quest Partners LLC acquired a new position in shares of Zscaler in the second quarter worth about $28,000. Quadrant Capital Group LLC lifted its stake in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Asset Dedication LLC lifted its stake in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Zscaler by 24.5% in the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds 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.