Zscaler (NASDAQ:ZS) Shares Gap Down on Analyst Downgrade

Zscaler, Inc. (NASDAQ:ZS)’s share price gapped down before the market opened on Tuesday after Loop Capital lowered their price target on the stock from $200.00 to $195.00. The stock had previously closed at $208.51, but opened at $195.90. Loop Capital currently has a hold rating on the stock. Zscaler shares last traded at $198.21, with a volume of 2,179,472 shares changing hands.

Other equities analysts have also issued research reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. KeyCorp lifted their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wedbush cut their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Piper Sandler lifted their target price on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, BTIG Research increased their price target on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $224.38.

Insider Transactions at Zscaler

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. The trade was a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently made changes to their positions in ZS. Janus Henderson Group PLC boosted its stake in Zscaler by 11.8% in the first quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock worth $1,757,000 after purchasing an additional 963 shares in the last quarter. Tidal Investments LLC increased its position in Zscaler by 7.4% in the 1st quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock valued at $951,000 after acquiring an additional 341 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Zscaler by 895.1% in the first quarter. Cetera Investment Advisers now owns 31,395 shares of the company’s stock worth $6,048,000 after acquiring an additional 28,240 shares during the last quarter. Cetera Advisors LLC lifted its position in shares of Zscaler by 146.7% during the first quarter. Cetera Advisors LLC now owns 8,079 shares of the company’s stock worth $1,556,000 after purchasing an additional 4,804 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Down 4.7 %

The business’s fifty day moving average is $190.79 and its two-hundred day moving average is $185.01.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS. Research analysts expect that Zscaler, Inc. will post -0.95 EPS for the current year.

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.