Zscaler (NASDAQ:ZS) PT Lowered to $270.00

Zscaler (NASDAQ:ZSGet Free Report) had its target price dropped by stock analysts at UBS Group from $300.00 to $270.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price objective points to a potential upside of 72.36% from the company’s previous close.

Several other research firms also recently commented on ZS. JPMorgan Chase & Co. lifted their price objective on Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Morgan Stanley reduced their price objective on Zscaler from $214.00 to $202.00 and set an “equal weight” rating for the company in a report on Friday, May 24th. BMO Capital Markets dropped their target price on Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Barclays dropped their target price on Zscaler from $240.00 to $205.00 and set an “overweight” rating on the stock in a research report on Monday, May 20th. Finally, Truist Financial reissued a “buy” rating and issued a $260.00 target price on shares of Zscaler in a research report on Monday, April 1st. Seven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $227.79.

Read Our Latest Analysis on Zscaler

Zscaler Price Performance

ZS opened at $156.65 on Wednesday. The stock has a fifty day simple moving average of $178.67 and a two-hundred day simple moving average of $204.63. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The company has a market cap of $23.48 billion, a price-to-earnings ratio of -164.89 and a beta of 0.85. Zscaler has a 12-month low of $128.12 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZSGet Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Research analysts predict that Zscaler will post -0.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Syam Nair sold 2,893 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the transaction, the insider now owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the transaction, the chief financial officer now directly owns 255,943 shares in the company, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Insiders have sold a total of 12,715 shares of company stock valued at $2,455,902 in the last quarter. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. 1832 Asset Management L.P. purchased a new position in Zscaler during the 4th quarter valued at $217,683,000. Norges Bank purchased a new position in Zscaler during the 4th quarter valued at $117,599,000. Polar Capital Holdings Plc purchased a new position in Zscaler during the 3rd quarter valued at $61,681,000. Trivest Advisors Ltd purchased a new position in Zscaler during the 4th quarter valued at $72,051,000. Finally, Quadrature Capital Ltd purchased a new position in Zscaler during the 1st quarter valued at $47,217,000. Institutional investors own 46.45% of the company’s stock.

About Zscaler

(Get Free Report)

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.

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