Wells Fargo & Company Cuts Zscaler (NASDAQ:ZS) Price Target to $180.00

Zscaler (NASDAQ:ZS) had its price target reduced by Wells Fargo & Company from $182.00 to $180.00 in a report published on Wednesday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research 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 on the stock. in a report on Tuesday, July 16th. Raymond James started coverage on Zscaler in a report on Tuesday, July 23rd. They issued a market perform rating on the stock. Morgan Stanley boosted their target price on Zscaler from $202.00 to $215.00 and gave the stock an equal weight rating in a report on Monday, August 26th. Susquehanna lowered their price target on Zscaler from $275.00 to $210.00 and set a positive rating on the stock in a report on Friday, May 31st. Finally, Stifel Nicolaus lowered their price target on Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a report on Thursday, May 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $218.39.

Zscaler Trading Down 3.4 %

NASDAQ ZS opened at $156.78 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $187.65 and its 200 day moving average is $187.65. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61. The firm has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate 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 business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. Research analysts forecast that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZS. Quest Partners LLC bought a new position in Zscaler in the 2nd quarter worth approximately $28,000. Jones Financial Companies Lllp bought a new position in Zscaler in the 4th quarter worth approximately $29,000. Quadrant Capital Group LLC boosted its stake in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the period. Asset Dedication LLC boosted its stake in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, American Capital Advisory LLC bought a new position in Zscaler in the 2nd quarter worth approximately $50,000. Institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

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.