Zscaler (NASDAQ:ZS) Price Target Lowered to $70.00 at Robert W. Baird

Zscaler (NASDAQ:ZS) had its price objective trimmed by Robert W. Baird from $80.00 to $70.00 in a research report released on Wednesday morning, BenzingaRatingsTable reports. The firm currently has an outperform rating on the stock.

Several other equities research analysts also recently commented on ZS. BMO Capital Markets reduced their target price on Zscaler from $100.00 to $60.00 and set a market perform rating for the company in a report on Wednesday. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a strong-buy rating and set a $89.00 target price (up from $65.00) on shares of Zscaler in a report on Friday, May 31st. Rosenblatt Securities started coverage on Zscaler in a report on Monday. They set a neutral rating and a $65.00 target price for the company. Wedbush reduced their target price on Zscaler from $90.00 to $80.00 and set an outperform rating for the company in a report on Wednesday. Finally, Berenberg Bank started coverage on Zscaler in a report on Friday, May 31st. They set a hold rating and a $78.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $67.50.

Shares of Zscaler stock traded down $0.08 during trading on Wednesday, hitting $49.59. The stock had a trading volume of 7,033,854 shares, compared to its average volume of 2,412,084. The firm has a market cap of $7.79 billion, a P/E ratio of -159.97 and a beta of 1.29. The business has a fifty day moving average of $76.08 and a two-hundred day moving average of $72.13. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54.



Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, beating the 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 business had revenue of $86.11 million during the quarter, compared to the consensus estimate of $82.15 million. On average, analysts predict that Zscaler will post -0.17 earnings per share for the current year.

In other Zscaler news, insider Robert Schlossman sold 1,213 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $77.80, for a total value of $94,371.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen Blasing sold 1,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $77.12, for a total value of $77,120.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 189,774 shares of company stock valued at $15,730,959. Company insiders own 27.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its position in Zscaler by 11.7% in the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock worth $507,877,000 after purchasing an additional 750,088 shares during the last quarter. Vanguard Group Inc. increased its position in Zscaler by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock worth $363,224,000 after purchasing an additional 655,847 shares during the last quarter. BlackRock Inc. increased its position in Zscaler by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,698,605 shares of the company’s stock worth $262,341,000 after purchasing an additional 13,259 shares during the last quarter. Allianz Asset Management GmbH increased its position in Zscaler by 19.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,453,763 shares of the company’s stock worth $188,057,000 after purchasing an additional 400,253 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new position in Zscaler in the 2nd quarter worth about $148,614,000. 33.49% of the stock is currently owned by 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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