Zscaler (NASDAQ:ZS) Shares Down 1.7%

Shares of Zscaler, Inc. (NASDAQ:ZS) fell 1.7% during mid-day trading on Tuesday . The stock traded as low as $179.47 and last traded at $181.27. 737,450 shares traded hands during trading, a decline of 67% from the average session volume of 2,243,714 shares. The stock had previously closed at $184.38.

Wall Street Analysts Forecast Growth

ZS has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on shares of Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Friday, May 24th. The Goldman Sachs Group boosted their target price on Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Barclays upped their price target on shares of Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Citigroup cut their price target on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $260.00 target price (down previously from $290.00) on shares of Zscaler in a research note on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Trading Down 2.5 %

The firm has a market capitalization of $27.18 billion, a P/E ratio of -355.43 and a beta of 0.85. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock has a 50 day simple moving average of $176.13 and a 200-day simple moving average of $203.91.

Institutional Trading of Zscaler

Hedge funds have recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale boosted its stake in shares of Zscaler by 2.1% in the first quarter. DekaBank Deutsche Girozentrale now owns 254,627 shares of the company’s stock worth $48,970,000 after acquiring an additional 5,317 shares during the period. Cambridge Trust Co. lifted its stake in Zscaler by 133.3% in the 1st quarter. Cambridge Trust Co. now owns 700 shares of the company’s stock worth $135,000 after purchasing an additional 400 shares in the last quarter. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Zscaler during the first quarter valued at about $3,877,000. Cetera Advisors LLC increased its holdings in shares of Zscaler by 146.7% in the first quarter. Cetera Advisors LLC now owns 8,079 shares of the company’s stock worth $1,556,000 after purchasing an additional 4,804 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Zscaler by 895.1% in the first quarter. Cetera Investment Advisers now owns 31,395 shares of the company’s stock worth $6,048,000 after buying an additional 28,240 shares in the last quarter. 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.