Zscaler (NASDAQ:ZS) Price Target Lowered to $197.00 at BMO Capital Markets

Zscaler (NASDAQ:ZS) had its target price cut by BMO Capital Markets from $208.00 to $197.00 in a research report released on Wednesday morning, MarketBeat reports. They currently have an outperform rating on the stock.

Several other brokerages have also recently issued reports on ZS. Mizuho cut shares of Zscaler from an outperform rating to a neutral rating and set a $220.00 target price for the company. in a report on Tuesday, July 16th. Raymond James began coverage on Zscaler in a research note on Tuesday, July 23rd. They set a market perform rating for the company. Stifel Nicolaus lowered their target price on Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a research note on Thursday, May 16th. 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 research report on Tuesday, May 28th. Finally, Susquehanna lowered their price objective on Zscaler from $275.00 to $210.00 and set a positive rating on the stock in a research report on Friday, May 31st. 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, the stock currently has an average rating of Moderate Buy and a consensus target price of $217.41.

Zscaler Stock Performance

Shares of ZS opened at $157.13 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a 50-day moving average of $188.90 and a two-hundred day moving average of $188.50. The stock has a market cap of $23.75 billion, a P/E ratio of -308.10 and a beta of 0.85. Zscaler has a one year low of $146.59 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last released its 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 return on equity of 5.84% and a negative net margin of 3.62%. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The company’s revenue was up 30.3% compared to the same quarter last year. As a group, research analysts predict that Zscaler will post -0.32 EPS for the current year.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC acquired a new position in Zscaler in the second quarter valued at approximately $28,000. Jones Financial Companies Lllp acquired a new position in shares of Zscaler in the 4th quarter valued at $29,000. Quadrant Capital Group LLC grew its holdings in shares of Zscaler by 66.7% during 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 during the period. Asset Dedication LLC increased its position in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC purchased a new stake in Zscaler in the 2nd quarter valued at about $50,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Zscaler

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.