Zscaler (NASDAQ:ZS) Given New $70.00 Price Target at Cowen

Zscaler (NASDAQ:ZS) had its target price reduced by Cowen from $85.00 to $70.00 in a research report report published on Wednesday morning, The Fly reports. They currently have an outperform rating on the stock.

ZS has been the topic of a number of other research reports. Barclays decreased their target price on Zscaler from $80.00 to $54.00 and set an equal weight rating on the stock in a research report on Wednesday. Needham & Company LLC reiterated a strong-buy rating and issued a $89.00 target price (up previously from $65.00) on shares of Zscaler in a research report on Friday, May 31st. Zacks Investment Research cut Zscaler from a buy rating to a hold rating in a research report on Saturday, August 3rd. Bank of America set a $77.00 target price on Zscaler and gave the company a neutral rating in a research report on Friday, May 31st. Finally, Wedbush decreased their target price on Zscaler from $90.00 to $80.00 and set an outperform rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $67.50.

Zscaler stock traded down $0.08 during midday trading on Wednesday, reaching $49.59. The company’s stock had a trading volume of 7,033,854 shares, compared to its average volume of 2,412,084. Zscaler has a 52 week low of $30.72 and a 52 week high of $89.54. The business has a 50-day moving average price of $76.08 and a 200-day moving average price of $72.13. The stock has a market cap of $7.79 billion, a PE ratio of -159.97 and a beta of 1.29.



Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The firm had revenue of $86.11 million for the quarter, compared to analysts’ expectations of $82.15 million. Research analysts anticipate that Zscaler will post -0.17 EPS for the current fiscal year.

In other news, Director Karen Blasing sold 1,000 shares of Zscaler stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $68.09, for a total transaction of $68,090.00. Following the sale, the director now directly owns 3,595 shares of the company’s stock, valued at $244,783.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amit Sinha sold 18,000 shares of Zscaler stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $80.78, for a total value of $1,454,040.00. The disclosure for this sale can be found here. Insiders have sold 189,774 shares of company stock worth $15,730,959 over the last three months. Insiders own 27.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Tortoise Index Solutions LLC acquired a new stake in shares of Zscaler during the first quarter valued at about $25,000. CSat Investment Advisory L.P. acquired a new stake in shares of Zscaler during the second quarter valued at about $25,000. Meadow Creek Investment Management LLC acquired a new stake in shares of Zscaler during the second quarter valued at about $32,000. Neuburgh Advisers LLC acquired a new stake in shares of Zscaler during the second quarter valued at about $44,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in shares of Zscaler by 211.1% during the first quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock valued at $50,000 after purchasing an additional 475 shares in the last quarter. 33.49% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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