Zscaler (NASDAQ:ZS) Price Target Cut to $230.00 by Analysts at Oppenheimer

Zscaler (NASDAQ:ZS) had its target price cut by Oppenheimer from $260.00 to $230.00 in a report issued on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

ZS has been the topic of a number of other reports. Barclays dropped their price target on Zscaler from $230.00 to $200.00 and set an overweight rating on the stock in a research note on Wednesday. Rosenblatt Securities restated a neutral rating and set a $190.00 price objective on shares of Zscaler in a report on Tuesday, May 28th. Canaccord Genuity Group reduced their price objective on shares of Zscaler from $260.00 to $220.00 and set a buy rating for the company in a report on Tuesday, June 4th. Raymond James initiated coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a market perform rating for the company. Finally, Sanford C. Bernstein dropped their price target on shares of Zscaler from $280.00 to $270.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $217.41.

Zscaler Stock Performance

Shares of ZS stock opened at $157.13 on Wednesday. The firm has a 50 day moving average of $188.90 and a 200-day moving average of $188.50. The company has a market cap of $23.75 billion, a price-to-earnings ratio of -308.10 and a beta of 0.85. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler has a 52 week low of $146.59 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping 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 business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the company posted ($0.17) earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. On average, equities analysts forecast 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 firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Truist Financial Corp grew its stake in Zscaler by 137.3% during the second quarter. Truist Financial Corp now owns 2,572 shares of the company’s stock valued at $494,000 after acquiring an additional 1,488 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Zscaler by 166.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,012 shares of the company’s stock valued at $1,924,000 after purchasing an additional 6,251 shares in the last quarter. Quarry LP increased its holdings in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after purchasing an additional 331 shares during the period. Capital Impact Advisors LLC purchased a new stake in shares of Zscaler in the second quarter worth $866,000. Finally, Creative Planning boosted its stake in Zscaler by 11.3% during the second quarter. Creative Planning now owns 137,983 shares of the company’s stock valued at $26,519,000 after buying an additional 13,978 shares during the period. 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.