Zscaler (NASDAQ:ZS) had its price target trimmed by Wedbush from $90.00 to $80.00 in a research note issued to investors on Wednesday, AnalystRatings.com reports. The brokerage currently has an outperform rating on the stock.
Other equities analysts have also issued reports about the company. Barclays lowered 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. Cowen started coverage on Zscaler in a report on Thursday, May 23rd. They set an outperform rating and a $85.00 price target for the company. OTR Global downgraded Zscaler from a mixed rating to a negative rating in a report on Monday, August 19th. Morgan Stanley upped their price target on Zscaler from $43.00 to $52.00 and gave the stock an underweight rating in a report on Friday, May 31st. Finally, BMO Capital Markets decreased their price target 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. Two 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 stock. Zscaler has a consensus rating of Hold and an average price target of $67.50.
Shares of NASDAQ:ZS opened at $47.48 on Wednesday. Zscaler has a twelve month low of $30.72 and a twelve month high of $89.54. The stock’s 50 day moving average is $75.30 and its 200-day moving average is $72.12. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -395.67 and a beta of 1.29.
In other Zscaler news, EVP Amit Sinha sold 18,000 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $80.78, for a total value of $1,454,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Blasing sold 1,000 shares of the company’s stock in a transaction on Monday, June 17th. The shares were 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. Insiders have sold 189,774 shares of company stock valued at $15,730,959 in the last quarter. 27.40% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. FMR LLC grew its stake in Zscaler by 11.7% in the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock valued at $507,877,000 after purchasing an additional 750,088 shares during the period. Vanguard Group Inc. grew its stake in Zscaler by 16.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock valued at $363,224,000 after purchasing an additional 655,847 shares during the period. BlackRock Inc. grew its stake in Zscaler by 0.4% in the 1st quarter. BlackRock Inc. now owns 3,698,605 shares of the company’s stock valued at $262,341,000 after purchasing an additional 13,259 shares during the period. Allianz Asset Management GmbH grew its stake in Zscaler by 19.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 2,453,763 shares of the company’s stock valued at $188,057,000 after purchasing an additional 400,253 shares during the period. Finally, Nuveen Asset Management LLC bought a new position in Zscaler in the 2nd quarter valued at $148,614,000. Hedge funds and other institutional investors own 33.49% of the company’s stock.
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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