Mizuho Trims Zscaler (NASDAQ:ZS) Target Price to $240.00

Zscaler (NASDAQ:ZS) had its price objective decreased by Mizuho from $310.00 to $240.00 in a research report report published on Friday, Benzinga reports. Mizuho currently has a buy rating on the stock.

ZS has been the topic of several other reports. Cantor Fitzgerald reaffirmed a neutral rating and issued a $230.00 target price on shares of Zscaler in a research note on Wednesday, April 17th. Truist Financial reiterated a buy rating and set a $260.00 target price on shares of Zscaler in a report on Monday, April 1st. Barclays cut their target price on Zscaler from $259.00 to $240.00 and set an overweight rating on the stock in a research note on Friday, March 1st. Sanford C. Bernstein lowered their price target on Zscaler from $311.00 to $280.00 and set an outperform rating for the company in a research report on Friday, March 1st. Finally, JMP Securities reiterated a market outperform rating and issued a $270.00 price objective on shares of Zscaler in a report on Tuesday, May 14th. Five analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has an average rating of Moderate Buy and an average price target of $231.26.

Zscaler Stock Up 1.0 %

Shares of NASDAQ:ZS opened at $180.60 on Friday. The firm has a market capitalization of $27.07 billion, a PE ratio of -190.11 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. Zscaler has a 52-week low of $123.21 and a 52-week high of $259.61. The firm has a fifty day moving average of $183.28 and a 200 day moving average of $205.17.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. As a group, research analysts anticipate that Zscaler will post -0.8 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 7,707 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the transaction, the chief financial officer now owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 7,707 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Insiders sold 12,715 shares of company stock worth $2,455,902 in the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Zscaler in the 4th quarter worth approximately $9,674,000. Nordea Investment Management AB boosted its stake in shares of Zscaler by 463.5% during the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after purchasing an additional 24,514 shares during the period. Vanguard Group Inc. grew its holdings in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares during the last quarter. AQR Capital Management LLC increased its stake in Zscaler by 272.6% in the 3rd quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock worth $6,518,000 after buying an additional 30,650 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Zscaler by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 309,360 shares of the company’s stock valued at $68,542,000 after buying an additional 15,628 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

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.