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

Zscaler (NASDAQ:ZS) had its target price decreased by UBS Group from $270.00 to $250.00 in a research report released on Wednesday morning, Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research firms also recently issued reports on ZS. Barclays cut their price objective on shares of Zscaler from $230.00 to $200.00 and set an overweight rating on the stock in a report on Wednesday. Piper Sandler reduced their price objective on shares of Zscaler from $255.00 to $215.00 and set an overweight rating for the company in a research report on Wednesday. Scotiabank dropped their target price on shares of Zscaler from $210.00 to $195.00 and set a sector outperform rating on the stock in a research report on Wednesday. Stifel Nicolaus reaffirmed a buy rating and issued a $220.00 target price on shares of Zscaler in a report on Wednesday. Finally, Wells Fargo & Company decreased their price target on Zscaler from $182.00 to $180.00 and set an equal weight rating for the company in a research report on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $218.39.

Zscaler Trading Down 3.4 %

ZS opened at $156.78 on Wednesday. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The firm has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. 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 company’s 50-day moving average is $187.65 and its 200 day moving average is $187.23.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The company’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, research analysts predict that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares in the company, valued at approximately $43,148,154.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ZS. Sierra Summit Advisors LLC purchased a new position in Zscaler during the fourth quarter worth about $5,609,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Zscaler by 6.9% in the 1st 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 acquiring an additional 6,683 shares in the last quarter. Norges Bank bought a new stake in shares of Zscaler during the 4th quarter valued at about $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of 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 purchasing an additional 9,689 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC increased its position in shares of Zscaler by 40.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock worth $470,000 after purchasing an additional 696 shares during the last quarter. Institutional investors 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.