Zscaler (NASDAQ:ZS) PT Lowered to $200.00 at Barclays

Zscaler (NASDAQ:ZS) had its target price trimmed by Barclays from $230.00 to $200.00 in a research report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Royal Bank of Canada lifted their price objective on shares of Zscaler from $215.00 to $230.00 and gave the company an outperform rating in a research note on Friday, May 31st. Canaccord Genuity Group reduced their price target on shares of Zscaler from $260.00 to $220.00 and set a buy rating for the company in a research note on Tuesday, June 4th. JMP Securities reiterated a market outperform rating and issued a $270.00 price objective on shares of Zscaler in a report on Monday, June 17th. Susquehanna lowered their price target on Zscaler from $275.00 to $210.00 and set a positive rating on the stock in a research report on Friday, May 31st. Finally, Oppenheimer restated an outperform rating and issued a $260.00 price objective (down previously from $290.00) on shares of Zscaler in a report on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $218.39.

Zscaler Stock Performance

Shares of ZS opened at $156.78 on Wednesday. The firm has a fifty day moving average of $187.65 and a 200-day moving average of $187.23. The company has a market cap of $23.70 billion, a price-to-earnings ratio of -307.41 and a beta of 0.82. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler has a 1 year low of $146.59 and a 1 year high of $259.61.

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

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now owns 251,467 shares of the company’s stock, valued at approximately $45,497,924.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter worth $28,000. Jones Financial Companies Lllp acquired a new position in Zscaler during the 4th quarter worth $29,000. Quadrant Capital Group LLC boosted its holdings in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the period. Asset Dedication LLC grew its position in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC bought a new position in shares of Zscaler in the second quarter worth about $50,000. Institutional investors own 46.45% of the company’s stock.

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.