Zscaler, Inc. (NASDAQ:ZS – Get Rating) fell 11.6% during trading on Friday after Morgan Stanley lowered their price target on the stock from $180.00 to $162.00. Morgan Stanley currently has an overweight rating on the stock. Zscaler traded as low as $126.52 and last traded at $127.81. 55,482 shares traded hands during trading, a decline of 98% from the average session volume of 2,246,401 shares. The stock had previously closed at $144.50.
Other equities research analysts also recently issued reports about the company. Macquarie initiated coverage on Zscaler in a report on Wednesday, November 2nd. They set a “neutral” rating and a $155.00 target price for the company. Wells Fargo & Company reduced their price objective on Zscaler from $190.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday. Sumitomo Mitsui Financial Group initiated coverage on Zscaler in a research note on Friday, October 7th. They issued an “outperform” rating and a $220.00 price objective for the company. Wedbush reduced their price objective on Zscaler from $200.00 to $180.00 in a research note on Friday. Finally, Barclays reduced their price objective on Zscaler from $160.00 to $143.00 and set an “equal weight” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.00.
Insider Buying and Selling at Zscaler
In other Zscaler news, insider Robert Schlossman sold 3,825 shares of the firm’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $150.83, for a total value of $576,924.75. Following the completion of the sale, the insider now owns 141,279 shares in the company, valued at approximately $21,309,111.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Zscaler news, COO Dali Rajic sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $168.00, for a total value of $3,360,000.00. Following the completion of the sale, the chief operating officer now owns 270,599 shares in the company, valued at approximately $45,460,632. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 3,825 shares of the firm’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $150.83, for a total value of $576,924.75. Following the completion of the sale, the insider now owns 141,279 shares of the company’s stock, valued at approximately $21,309,111.57. The disclosure for this sale can be found here. Insiders have sold 175,339 shares of company stock valued at $29,386,731 in the last 90 days. 19.80% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Zscaler
Hedge funds and other institutional investors have recently modified their holdings of the stock. Qube Research & Technologies Ltd bought a new position in shares of Zscaler during the 1st quarter worth approximately $9,699,000. Janney Montgomery Scott LLC increased its holdings in Zscaler by 44.8% during the 2nd quarter. Janney Montgomery Scott LLC now owns 3,981 shares of the company’s stock valued at $617,000 after purchasing an additional 1,232 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its holdings in Zscaler by 113.3% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 45,685 shares of the company’s stock valued at $11,023,000 after purchasing an additional 24,268 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Zscaler during the 1st quarter valued at $139,000. Finally, Swiss National Bank increased its holdings in Zscaler by 16.5% during the 1st quarter. Swiss National Bank now owns 363,975 shares of the company’s stock valued at $87,820,000 after purchasing an additional 51,600 shares in the last quarter. Institutional investors own 45.51% of the company’s stock.
Zscaler Price Performance
The stock has a fifty day moving average of $147.36 and a two-hundred day moving average of $154.39. The stock has a market capitalization of $18.57 billion, a price-to-earnings ratio of -46.57 and a beta of 0.83. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 1.69.
Zscaler (NASDAQ:ZS – Get Rating) last released its quarterly earnings results on Thursday, September 8th. The company reported ($0.40) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.23. Zscaler had a negative return on equity of 55.59% and a negative net margin of 35.77%. The firm had revenue of $318.06 million during the quarter, compared to analysts’ expectations of $305.54 million. During the same period last year, the firm posted ($0.48) EPS. The business’s revenue was up 61.4% on a year-over-year basis. As a group, equities research analysts forecast that Zscaler, Inc. will post -2.13 earnings per share for the current year.
About Zscaler
Zscaler, Inc operates as a cloud security company worldwide. It 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.