Zscaler (NASDAQ:ZS) Shares Down 1.4%

Shares of Zscaler, Inc. (NASDAQ:ZS) traded down 1.4% on Wednesday . The company traded as low as $177.78 and last traded at $179.88. 466,743 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 2,239,329 shares. The stock had previously closed at $182.52.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ZS shares. Cantor Fitzgerald reiterated a “neutral” rating and set a $200.00 price target on shares of Zscaler in a report on Friday, June 21st. Mizuho cut their price target on shares of Zscaler from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 31st. The Goldman Sachs Group increased their price objective on shares of Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Susquehanna cut their target price on Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a research note on Friday, May 31st. Finally, Wells Fargo & Company reiterated an “equal weight” rating and set a $182.00 price target (down from $275.00) on shares of Zscaler in a report on Tuesday, May 28th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Price Performance

The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The business has a 50 day moving average price of $176.43 and a two-hundred day moving average price of $202.86.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. The business had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. Equities research analysts forecast that Zscaler, Inc. will post -0.34 earnings per share for the current year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the transaction, the chief financial officer now owns 251,467 shares in the company, valued at $45,497,924.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 19.20% of the stock is owned by company insiders.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of ZS. LPL Financial LLC lifted its stake in shares of Zscaler by 10.2% in the 3rd quarter. LPL Financial LLC now owns 44,546 shares of the company’s stock valued at $6,931,000 after purchasing an additional 4,121 shares during the period. Mariner LLC grew its stake in shares of Zscaler by 10.4% during the 3rd quarter. Mariner LLC now owns 8,441 shares of the company’s stock valued at $1,313,000 after purchasing an additional 797 shares during the period. Stifel Financial Corp grew its position in Zscaler by 5.3% during the third quarter. Stifel Financial Corp now owns 57,888 shares of the company’s stock valued at $9,007,000 after buying an additional 2,927 shares during the period. Northern Trust Corp boosted its stake in shares of Zscaler by 5.6% during the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after acquiring an additional 29,405 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC bought a new stake in shares of Zscaler during the 3rd quarter valued at $437,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.