Scotiabank Cuts Zscaler (NASDAQ:ZS) Price Target to $210.00

Zscaler (NASDAQ:ZS) had its price target reduced by Scotiabank from $250.00 to $210.00 in a research report report published on Friday, Benzinga reports. They currently have a sector outperform rating on the stock.

Several other equities analysts also recently commented on the stock. Cantor Fitzgerald cut their price target on shares of Zscaler from $230.00 to $200.00 and set a neutral rating on the stock in a report on Friday. JMP Securities reissued a market outperform rating and issued a $270.00 price objective on shares of Zscaler in a research report on Friday. Mizuho lowered their price target on shares of Zscaler from $240.00 to $220.00 and set a buy rating for the company in a research report on Friday. BTIG Research lowered their price target on shares of Zscaler from $258.00 to $220.00 and set a buy rating for the company in a research report on Friday. Finally, Royal Bank of Canada boosted their price objective on shares of Zscaler from $215.00 to $230.00 and gave the stock an outperform rating in a research note on Friday. Seven equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $223.85.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $169.96 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $25.48 billion, a P/E ratio of -333.25 and a beta of 0.85. The firm’s fifty day moving average is $178.17 and its two-hundred day moving average is $204.84. Zscaler has a 52-week low of $128.12 and a 52-week high of $259.61.

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

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was 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 in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,715 shares of company stock valued at $2,455,902. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler during the fourth quarter valued at about $29,000. Parkside Financial Bank & Trust increased its stake in Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after buying an additional 134 shares during the period. GAMMA Investing LLC acquired a new position in Zscaler in the 4th quarter valued at $37,000. Quadrant Capital Group LLC increased its stake in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Zscaler by 109.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after buying an additional 109 shares during the period. 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.