Zscaler (NASDAQ:ZS) Cut to Neutral at Mizuho

Mizuho cut shares of Zscaler (NASDAQ:ZS) from an outperform rating to a neutral rating in a research note published on Tuesday, Marketbeat.com reports. Mizuho currently has $220.00 price objective on the stock.

A number of other research firms also recently commented on ZS. JPMorgan Chase & Co. raised shares of Zscaler from a neutral rating to an overweight rating and lifted their target price for the stock from $205.00 to $230.00 in a research report on Friday, June 14th. JMP Securities reiterated a market outperform rating and set a $270.00 price objective on shares of Zscaler in a research report on Monday, June 17th. Needham & Company LLC reissued a strong-buy rating and issued a $290.00 target price on shares of Zscaler in a research report on Friday, June 14th. Citigroup reduced their price target on shares of Zscaler from $270.00 to $240.00 and set a buy rating for the company in a research report on Wednesday, June 5th. Finally, KeyCorp raised shares of Zscaler from a sector weight rating to an overweight rating and set a $220.00 price objective on the stock in a report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $225.21.

Zscaler Trading Down 2.3 %

Shares of NASDAQ ZS opened at $190.37 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market cap of $28.77 billion, a P/E ratio of -373.27 and a beta of 0.85. The firm has a 50-day moving average of $183.44 and a 200 day moving average of $200.62. Zscaler has a 1 year low of $131.59 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. As a group, sell-side analysts expect that Zscaler will post -0.34 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. B. Riley Wealth Advisors Inc. boosted its stake in shares of Zscaler by 1.7% during the third quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $585,000 after purchasing an additional 63 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Zscaler by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after acquiring an additional 129,090 shares during the period. First Hawaiian Bank raised its position in shares of Zscaler by 26.2% in the 4th quarter. First Hawaiian Bank now owns 3,440 shares of the company’s stock worth $762,000 after acquiring an additional 715 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Zscaler in the 4th quarter worth $214,000. Finally, Nordea Investment Management AB lifted its stake in shares of Zscaler by 463.5% during the 4th quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock worth $6,629,000 after purchasing an additional 24,514 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

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.