Zscaler (NASDAQ:ZS) Price Target Lowered to $230.00 at Oppenheimer

Zscaler (NASDAQ:ZS) had its price objective cut by Oppenheimer from $260.00 to $230.00 in a report released on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus reissued a buy rating and issued a $220.00 price objective on shares of Zscaler in a research report on Wednesday. Canaccord Genuity Group dropped their price objective on shares of Zscaler from $260.00 to $220.00 and set a buy rating on the stock in a report on Tuesday, June 4th. Sanford C. Bernstein cut their price objective on shares of Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a research report on Friday, May 31st. Scotiabank lowered their price target on Zscaler from $210.00 to $195.00 and set a sector outperform rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised Zscaler from a neutral rating to an overweight rating and upped their price target for the company from $205.00 to $230.00 in a report on Friday, June 14th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $218.39.

Zscaler Stock Performance

NASDAQ:ZS opened at $156.78 on Wednesday. The firm has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. Zscaler has a 1 year low of $146.59 and a 1 year high of $259.61. 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 firm’s fifty day simple moving average is $187.65 and its 200 day simple moving average is $187.23.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data 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 3.75% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, sell-side analysts anticipate that Zscaler will post -0.38 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the sale, the chief financial officer now owns 251,467 shares in the company, valued at approximately $45,497,924.31. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of institutional investors have recently bought and sold shares of ZS. Vanguard Group Inc. lifted its stake in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after purchasing an additional 118,002 shares during the period. 1832 Asset Management L.P. bought a new stake in Zscaler in the fourth quarter valued at about $217,683,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after buying an additional 102,616 shares during the period. Norges Bank bought a new position in Zscaler during the fourth quarter worth about $117,599,000. Finally, Bank of New York Mellon Corp boosted its holdings in Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after buying an additional 25,181 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.