BTIG Research Trims Zscaler (NASDAQ:ZS) Target Price to $220.00

Zscaler (NASDAQ:ZS) had its price objective reduced by BTIG Research from $258.00 to $220.00 in a report published on Friday morning, Benzinga reports. BTIG Research currently has a buy rating on the stock.

Several other analysts also recently commented on the stock. Wedbush raised their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company an outperform rating in a research report on Friday, March 1st. BMO Capital Markets decreased their price objective on shares of Zscaler from $255.00 to $192.00 and set an outperform rating on the stock in a research report on Wednesday, May 29th. The Goldman Sachs Group raised their price objective on shares of Zscaler from $189.00 to $215.00 and gave the company a neutral rating in a research report on Monday, March 4th. Barclays decreased their price objective on shares of Zscaler from $240.00 to $205.00 and set an overweight rating on the stock in a research report on Monday, May 20th. Finally, Mizuho decreased their price objective on shares of Zscaler from $240.00 to $220.00 and set a buy rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $223.85.

Zscaler Trading Up 8.5 %

Shares of Zscaler stock opened at $169.96 on Friday. The company’s fifty day simple moving average is $178.17 and its 200-day simple moving average is $204.84. The stock has a market capitalization of $25.48 billion, a PE ratio of -333.25 and a beta of 0.85. Zscaler has a 1-year low of $128.12 and a 1-year high of $259.61. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. The firm had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 6.31%. As a group, equities analysts anticipate that Zscaler will post -0.8 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,715 shares of company stock valued at $2,455,902. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several large investors have recently added to or reduced their stakes in ZS. Principal Financial Group Inc. boosted its position in Zscaler by 3.5% in the 3rd quarter. Principal Financial Group Inc. now owns 10,790 shares of the company’s stock valued at $1,679,000 after buying an additional 363 shares during the period. Private Advisor Group LLC purchased a new stake in Zscaler in the 3rd quarter valued at about $229,000. Victory Capital Management Inc. boosted its position in Zscaler by 43.7% in the 3rd quarter. Victory Capital Management Inc. now owns 116,250 shares of the company’s stock valued at $18,087,000 after buying an additional 35,329 shares during the period. Assenagon Asset Management S.A. boosted its position in Zscaler by 70.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 14,837 shares of the company’s stock valued at $2,308,000 after buying an additional 6,154 shares during the period. Finally, Metis Global Partners LLC purchased a new stake in Zscaler in the 3rd quarter valued at about $219,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.