Zscaler (NASDAQ:ZS) Shares Down 0.5%

Shares of Zscaler, Inc. (NASDAQ:ZS) traded down 0.5% on Monday . The stock traded as low as $180.77 and last traded at $183.32. 268,828 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 2,244,188 shares. The stock had previously closed at $184.22.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ZS shares. Truist Financial reiterated a “buy” rating and issued a $260.00 target price on shares of Zscaler in a research report on Monday, April 1st. Citigroup cut their target price on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Morgan Stanley decreased their price target on shares of Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a research note on Friday, May 24th. BTIG Research dropped their price objective on shares of Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, The Goldman Sachs Group increased their price target on shares of Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Six research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Price Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The stock’s fifty day moving average is $176.12 and its 200-day moving average is $204.00. The stock has a market capitalization of $27.96 billion, a PE ratio of -359.45 and a beta of 0.85.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of ZS. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. GAMMA Investing LLC acquired a new position in Zscaler in the 4th quarter valued at about $37,000. Parkside Financial Bank & Trust grew its position in Zscaler by 582.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after acquiring an additional 134 shares during the period. Quadrant Capital Group LLC increased its stake in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its position in Zscaler by 109.0% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after purchasing an additional 109 shares during the period. Institutional investors and hedge funds 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.