Zscaler (NASDAQ:ZS – Get Rating) saw its price target lowered by Cowen stock research analysts from $405.00 to $194.00 in a note released Friday to investors, Stock Target Advisor reports. The brokerage currently has an “outperform” rating on the stock. Cowen’s target price suggests a potential upside of 22.27% from the company’s current price.
A number of other research companies have also recently commented on ZS. Robert W. Baird cut his price target on Zscaler shares from $300.00 to $200.00 and set an “outperform” rating for the company in a report released Friday. Stephens began covering Zscaler shares in a report on Wednesday. They issued an “overweight” rating and a price target of $200.00 for the company. Royal Bank of Canada cut its price target on Zscaler shares from $330.00 to $200.00 in a report on Monday. Citigroup cut its price target on Zscaler shares from $295.00 to $225.00 in a report on Friday. Finally, Canaccord Genuity Group cut its price target on Zscaler shares from $320.00 to $210.00 in a report on Friday. One analyst gave the stock a sell rating, six gave the company a hold rating and twenty-five gave the company a buy rating. According to MarketBeat.com, the stock currently has an average buy rating and an average price target of $252.45.
Shares of ZS traded at $16.53 at midday on Friday, hitting $158.66. 103,302 shares were traded, against an average volume of 2,712,420. The company has a fifty-day moving average of $199.67 and a 200-day moving average of $252.52. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt ratio of 1.74. Zscaler has a 52-week low of $125.12 and a 52-week high of $376.11. The company has a market capitalization of $22.38 billion, a PE ratio of -66.88 and a beta of 1.09.
Zscaler (NASDAQ:ZS – Get Rating) last released its results on Thursday, May 26. The company reported earnings per share (EPS) of $0.17 for the quarter, beating the consensus estimate of $0.11 by $0.06. The company posted revenue of $286.81 million for the quarter, versus analyst estimates of $271.47 million. Zscaler had a negative net margin of 38.47% and a negative return on equity of 51.11%. The company’s revenue for the quarter increased 62.6% year over year. During the same period of the previous year, the company posted an EPS of ($0.30). Equity analysts predict that Zscaler will post -2.34 EPS for the current year.
In other Zscaler news, insider Robert Schlossman sold 3,157 shares of Zscaler in a trade on Wednesday, March 16. The shares were sold at an average price of $203.09, for a total value of $641,155.13. The transaction was disclosed in a document filed with the SEC, which is available via this link. Additionally, Chairman Amit Sinha sold 7,358 shares of Zscaler in a trade on Wednesday, March 16. The shares were sold at an average price of $203.09, for a total transaction of $1,494,336.22. The disclosure of this sale can be found here. In the past three months, insiders have sold 36,779 shares of the company valued at $7,896,977. 20.30% of the shares are held by company insiders.
Institutional investors have recently changed their stake in the company. San Luis Wealth Advisors LLC acquired a new stock position in Zscaler during the first quarter worth approximately $30,000. Mascoma Wealth Management LLC acquired a new stock position in Zscaler during the fourth quarter worth approximately $31,000. AlphaCentric Advisors LLC purchased a new stake in Zscaler during the fourth quarter worth approximately $33,000. JFS Wealth Advisors LLC increased its holdings in Zscaler by 110.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 105 shares of the company worth $34,000 after purchasing an additional 55 shares in the last quarter. Finally, Arlington Partners LLC increased its stake in Zscaler by 122.4% during the first quarter. Arlington Partners LLC now owns 109 shares of the company worth $26,000 after buying 60 additional shares in the last quarter. Institutional investors and hedge funds hold 43.41% of the company’s shares.
About Zscaler (Get a rating)
Zscaler, Inc operates as a worldwide cloud security company. The Company provides the Zscaler Internet Access Solution that provides users, servers, operational technology and Internet of Things devices with secure access to externally managed applications, including SaaS (Software as a Service) and Internet destinations; and the Zscaler Private Access solution, designed to provide access to managed applications hosted internally in private or public data centers and clouds.
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