Zscaler (NASDAQ:ZS) PT Lowered to $180.00 at Wells Fargo & Company

Zscaler (NASDAQ:ZS) had its price objective decreased by Wells Fargo & Company from $182.00 to $180.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages also recently commented on ZS. Loop Capital reduced their price objective on Zscaler from $180.00 to $165.00 and set a hold rating on the stock in a research report on Wednesday. Sanford C. Bernstein lowered their price target on shares of Zscaler from $280.00 to $270.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Citigroup cut their price objective 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. Oppenheimer reiterated an outperform rating and issued a $260.00 target price (down from $290.00) on shares of Zscaler in a report on Friday, May 31st. Finally, Royal Bank of Canada reissued an outperform rating and issued a $230.00 price target on shares of Zscaler in a research note on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $218.39.

Zscaler Stock Down 3.4 %

NASDAQ ZS opened at $156.78 on Wednesday. The business has a fifty day moving average price of $187.65 and a 200 day moving average price of $187.23. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market cap of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82. Zscaler has a one year low of $146.59 and a one year high of $259.61.

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

Insider Buying and Selling

In related news, CFO Remo Canessa sold 4,689 shares of the company’s 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 sale, the chief financial officer now directly owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

Large investors have recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new stake in Zscaler during the fourth quarter worth approximately $217,683,000. Norges Bank acquired a new stake in Zscaler during the 4th quarter worth $117,599,000. Trivest Advisors Ltd purchased a new stake in Zscaler in the fourth quarter valued at $72,051,000. Quadrature Capital Ltd purchased a new position in shares of Zscaler during the first quarter worth about $47,217,000. Finally, Vanguard Group Inc. increased its position in shares of Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock worth $1,959,426,000 after purchasing an additional 206,908 shares in the last quarter. 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.