Zscaler (NASDAQ:ZS) Price Target Cut to $230.00

Zscaler (NASDAQ:ZS) had its target price decreased by Citigroup from $240.00 to $230.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 32.24% from the stock’s current price.

A number of other equities analysts have also weighed in on ZS. Scotiabank reduced their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Wednesday, September 4th. Loop Capital reduced their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. BTIG Research reduced their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Susquehanna reissued a “positive” rating and set a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $218.09.

Zscaler Stock Performance

Shares of Zscaler stock opened at $173.93 on Friday. Zscaler has a 52 week low of $149.63 and a 52 week high of $259.61. The stock has a market capitalization of $26.29 billion, a price-to-earnings ratio of -341.04 and a beta of 0.82. The firm has a fifty day moving average of $177.45 and a two-hundred day moving average of $181.14.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the business earned ($0.17) EPS. The firm’s revenue was up 30.3% on a year-over-year basis. As a group, research analysts forecast that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now owns 107,241 shares in the company, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,067 shares of company stock worth $4,995,912. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. Quest Partners LLC bought a new position in shares of Zscaler during the second quarter valued at $28,000. Jones Financial Companies Lllp bought a new position in Zscaler during the fourth quarter worth $29,000. Asset Dedication LLC raised its stake in 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. American Capital Advisory LLC bought a new position in Zscaler during the second quarter worth $50,000. Finally, GAMMA Investing LLC raised its stake in Zscaler by 103.2% during the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $61,000 after buying an additional 160 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.