Zscaler (NASDAQ:ZS) Price Target Cut to $200.00 by Analysts at Barclays

Zscaler (NASDAQ:ZS) had its target price reduced by Barclays from $230.00 to $200.00 in a research note issued to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on ZS. Sanford C. Bernstein lowered their price target on Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a report on Friday, May 31st. Robert W. Baird lowered their target price on Zscaler from $260.00 to $225.00 and set an outperform rating for the company in a research note on Wednesday. Loop Capital reduced their price target on Zscaler from $180.00 to $165.00 and set a hold rating on the stock in a research report on Wednesday. Canaccord Genuity Group lowered their price objective on shares of Zscaler from $260.00 to $220.00 and set a buy rating for the company in a research report on Tuesday, June 4th. Finally, Citigroup dropped their price objective on shares of Zscaler from $270.00 to $240.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. Nine research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $217.41.

Zscaler Stock Performance

Zscaler stock opened at $157.13 on Wednesday. The company has a market cap of $23.75 billion, a price-to-earnings ratio of -308.10 and a beta of 0.85. Zscaler has a 12 month low of $146.59 and a 12 month high of $259.61. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The stock’s 50-day moving average is $188.90 and its 200-day moving average is $188.50.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the company posted ($0.17) earnings per share. Zscaler’s revenue was up 30.3% compared to the same quarter last year. Equities analysts anticipate that Zscaler will post -0.32 earnings per share for the current year.

Insider Activity

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently modified their holdings of the company. Quest Partners LLC acquired a new position in Zscaler during the second quarter worth about $28,000. Jones Financial Companies Lllp acquired a new position in shares of Zscaler in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC raised its holdings in shares of Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Asset Dedication LLC lifted its stake in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in Zscaler during the second quarter worth approximately $50,000. Institutional investors own 46.45% of the company’s stock.

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.