Zscaler (NASDAQ:ZS) Price Target Lowered to $250.00 at UBS Group

Zscaler (NASDAQ:ZS) had its price target lowered by UBS Group from $270.00 to $250.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

ZS has been the topic of a number of other research reports. Raymond James began coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They set a market perform rating on the stock. Sanford C. Bernstein reduced their target price on Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a research note on Friday, May 31st. Canaccord Genuity Group dropped their price target on Zscaler from $260.00 to $220.00 and set a buy rating on the stock in a research note on Tuesday, June 4th. Mizuho cut Zscaler from an outperform rating to a neutral rating and set a $220.00 price objective for the company. in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated an outperform rating and issued a $230.00 target price on shares of Zscaler in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $217.41.

Zscaler Stock Performance

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

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

Insider Activity at Zscaler

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

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the business. Sierra Summit Advisors LLC acquired a new stake in Zscaler in the 4th quarter valued at about $5,609,000. State Board of Administration of Florida Retirement System increased its holdings in shares of Zscaler by 6.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after purchasing an additional 6,683 shares during the last quarter. Norges Bank purchased a new position in Zscaler during the fourth quarter worth approximately $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after buying an additional 9,689 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in Zscaler by 40.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after buying an additional 696 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.