BMO Capital Markets Cuts Zscaler (NASDAQ:ZS) Price Target to $197.00

Zscaler (NASDAQ:ZS) had its price objective reduced by BMO Capital Markets from $208.00 to $197.00 in a report released on Wednesday morning, MarketBeat reports. They currently have an outperform rating on the stock.

A number of other research analysts have also recently weighed in on the company. JPMorgan Chase & Co. upgraded Zscaler from a neutral rating to an overweight rating and lifted their target price for the company from $205.00 to $230.00 in a report on Friday, June 14th. Cantor Fitzgerald restated a neutral rating and set a $200.00 price objective on shares of Zscaler in a research note on Monday, August 19th. Morgan Stanley boosted their price objective on Zscaler from $202.00 to $215.00 and gave the stock an equal weight rating in a research note on Monday, August 26th. Sanford C. Bernstein reduced their price objective on Zscaler from $280.00 to $270.00 and set an outperform rating on the stock in a research note on Friday, May 31st. Finally, Oppenheimer restated an outperform rating and set a $260.00 price objective (down previously from $290.00) on shares of Zscaler in a research note on Friday, May 31st. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $218.39.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $156.78 on Wednesday. The company has a market cap of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler has a 52 week low of $146.59 and a 52 week high of $259.61. The business has a fifty day simple moving average of $187.65 and a 200-day simple moving average of $187.65.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. Equities research analysts forecast that Zscaler will post -0.38 EPS for the current year.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of ZS. Spire Wealth Management raised its position in shares of Zscaler by 24.5% during the 4th quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after acquiring an additional 49 shares during the last quarter. US Bancorp DE grew its holdings in shares of Zscaler by 0.3% in the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after buying an additional 59 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after buying an additional 66 shares during the period. Kovack Advisors Inc. grew its holdings in shares of Zscaler by 3.4% in the 1st quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock valued at $393,000 after buying an additional 67 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Zscaler by 21.3% in the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after buying an additional 67 shares during the period. Institutional investors and hedge funds 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.