Credit Suisse Group Trims Zscaler (NASDAQ:ZS) Target Price to $165.00

Zscaler (NASDAQ:ZS – Get Rating) had its price objective dropped by equities research analysts at Credit Suisse Group from $275.00 to $165.00 in a research note issued to investors on Wednesday, The Fly reports. The firm currently has an “outperform” rating on the stock. Credit Suisse Group’s price target points to a potential upside of 52.59% from the company’s current price.

Several other research analysts also recently weighed in on ZS. Redburn Partners started coverage on Zscaler in a research note on Thursday, December 1st. They set a “neutral” rating and a $135.00 target price for the company. Royal Bank of Canada reduced their price objective on Zscaler from $185.00 to $155.00 and set an “outperform” rating for the company in a research note on Monday, November 28th. UBS Group reduced their price objective on Zscaler from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, December 2nd. The Goldman Sachs Group assumed coverage on Zscaler in a research note on Tuesday, February 14th. They issued a “neutral” rating and a $148.00 price objective for the company. Finally, BMO Capital Markets reduced their price objective on Zscaler from $145.00 to $133.00 and set an “outperform” rating for the company in a research note on Friday, March 3rd. Thirteen investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.39.

Zscaler Trading Up 0.4 %

Shares of ZS stock opened at $108.13 on Wednesday. The company has a debt-to-equity ratio of 2.16, a current ratio of 2.01 and a quick ratio of 2.01. The company has a market cap of $15.69 billion, a price-to-earnings ratio of -47.02 and a beta of 0.88. The stock has a 50 day simple moving average of $122.57 and a 200-day simple moving average of $135.56. Zscaler has a 1-year low of $99.64 and a 1-year high of $253.74.

Insider Buying and Selling

In other news, Director Andrew William Fraser Brown bought 5,000 shares of the firm’s stock in a transaction that occurred on Friday, December 23rd. The shares were purchased 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 $2,529,135. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. raised its position in Zscaler by 3.4% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,243 shares of the company’s stock valued at $475,000 after purchasing an additional 138 shares in the last quarter. Victory Capital Management Inc. raised its position in Zscaler by 2.0% in the 4th quarter. Victory Capital Management Inc. now owns 84,247 shares of the company’s stock valued at $9,427,000 after purchasing an additional 1,658 shares in the last quarter. North Star Asset Management Inc. raised its position in Zscaler by 8.3% in the 4th quarter. North Star Asset Management Inc. now owns 24,933 shares of the company’s stock valued at $2,790,000 after purchasing an additional 1,912 shares in the last quarter. Macquarie Group Ltd. raised its position in Zscaler by 6.9% in the 4th quarter. Macquarie Group Ltd. now owns 32,088 shares of the company’s stock valued at $3,590,000 after purchasing an additional 2,064 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new stake in Zscaler in the 4th quarter valued at about $45,000. Institutional investors and hedge funds own 45.33% of the company’s stock.

Zscaler Company Profile

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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.