Cantor Fitzgerald Trims Zscaler (NASDAQ:ZS) Target Price to $140.00

Zscaler (NASDAQ:ZS – Get Rating) had its target price cut by stock analysts at Cantor Fitzgerald from $160.00 to $140.00 in a report issued on Friday, The Fly reports. Cantor Fitzgerald’s target price suggests a potential upside of 17.41% from the company’s previous close.

A number of other analysts also recently commented on ZS. Evercore ISI dropped their target price on shares of Zscaler to $200.00 in a report on Friday, December 2nd. JMP Securities dropped their target price on shares of Zscaler from $280.00 to $225.00 and set a “market outperform” rating on the stock in a research report on Friday, December 2nd. Redburn Partners assumed coverage on shares of Zscaler in a research report on Thursday, December 1st. They issued a “neutral” rating and a $135.00 target price on the stock. Barclays dropped their target price on shares of Zscaler from $143.00 to $135.00 in a research report on Friday. Finally, Scotiabank assumed coverage on shares of Zscaler in a research report on Tuesday, January 17th. They issued a “sector outperform” rating and a $115.00 target price on the stock. Twelve analysts have rated the stock with a hold rating, twenty-one 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 a consensus target price of $174.44.

Zscaler Stock Down 11.1 %

ZS stock opened at $119.24 on Friday. Zscaler has a 52 week low of $99.64 and a 52 week high of $253.74. The company has a market capitalization of $17.20 billion, a price-to-earnings ratio of -52.07 and a beta of 0.88. The firm’s 50-day moving average is $122.32 and its two-hundred day moving average is $138.67. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.64.

Zscaler (NASDAQ:ZS – Get Rating) last released its earnings results on Thursday, December 1st. The company reported ($0.47) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.04. Zscaler had a negative net margin of 24.08% and a negative return on equity of 50.99%. The business had revenue of $355.55 million for the quarter, compared to the consensus estimate of $341.08 million. On average, analysts forecast that Zscaler will post -1.69 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, COO Dali Rajic sold 7,113 shares of the company’s stock in a transaction on Friday, December 16th. The shares were sold at an average price of $114.14, for a total transaction of $811,877.82. Following the completion of the transaction, the chief operating officer now directly owns 296,820 shares in the company, valued at approximately $33,879,034.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, COO Dali Rajic sold 7,113 shares of the stock in a transaction on Friday, December 16th. The shares were sold at an average price of $114.14, for a total value of $811,877.82. Following the completion of the transaction, the chief operating officer now owns 296,820 shares in the company, valued at approximately $33,879,034.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown acquired 5,000 shares of the company’s stock in a transaction dated Friday, December 23rd. The stock was acquired at an average price of $108.78 per share, with a total value of $543,900.00. Following the purchase, the director now owns 23,250 shares in the company, valued at approximately $2,529,135. The disclosure for this purchase can be found here. Insiders sold a total of 19,735 shares of company stock worth $2,252,553 in the last ninety days. 19.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in the business. Nwam LLC raised its stake in shares of Zscaler by 4.3% in the 2nd quarter. Nwam LLC now owns 1,452 shares of the company’s stock valued at $241,000 after buying an additional 60 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Zscaler by 2.7% in the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock worth $617,000 after purchasing an additional 67 shares during the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Zscaler by 3.4% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,432 shares of the company’s stock worth $400,000 after purchasing an additional 80 shares during the last quarter. Mount Lucas Management LP grew its holdings in shares of Zscaler by 10.5% in the 2nd quarter. Mount Lucas Management LP now owns 892 shares of the company’s stock worth $133,000 after purchasing an additional 85 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of Zscaler by 9.2% in the 4th quarter. Van ECK Associates Corp now owns 1,006 shares of the company’s stock worth $113,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 45.33% of the company’s stock.

About Zscaler

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.