Zscaler, Inc. (NASDAQ:ZS – Get Free Report) shares gapped down prior to trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $230.00 to $220.00. The stock had previously closed at $193.19, but opened at $158.74. JPMorgan Chase & Co. currently has an overweight rating on the stock. Zscaler shares last traded at $160.69, with a volume of 2,025,019 shares.
A number of other equities analysts also recently commented on the company. Mizuho downgraded Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 target price for the company. in a report on Tuesday, July 16th. Raymond James started coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They issued a “market perform” rating for the company. Rosenblatt Securities reissued a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Robert W. Baird lowered their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, Citigroup reduced their price target on Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $217.41.
Insider Activity
In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction 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 completion of the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 19.20% of the company’s stock.
Hedge Funds Weigh In On Zscaler
Several hedge funds and other institutional investors have recently made changes to their positions in ZS. Quest Partners LLC purchased a new stake in Zscaler during the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp purchased a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. Quadrant Capital Group LLC increased its holdings in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the last quarter. Asset Dedication LLC lifted its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new position in Zscaler during the second quarter worth $50,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Zscaler Trading Down 18.7 %
The company has a market capitalization of $23.75 billion, a PE ratio of -308.10 and a beta of 0.85. The company has a fifty day simple moving average of $188.90 and a 200-day simple moving average of $188.50. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.
Zscaler (NASDAQ:ZS – Get Free Report) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. Analysts predict that Zscaler, Inc. will post -0.32 EPS for the current year.
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.