Zscaler (NASDAQ:ZS) Stock Price Down 1.4%

Shares of Zscaler, Inc. (NASDAQ:ZS) fell 1.4% during trading on Wednesday . The stock traded as low as $177.78 and last traded at $179.88. 466,743 shares changed hands during trading, a decline of 79% from the average session volume of 2,239,329 shares. The stock had previously closed at $182.52.

Wall Street Analyst Weigh In

Several research firms have commented on ZS. JPMorgan Chase & Co. raised shares of Zscaler from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $205.00 to $230.00 in a research note on Friday, June 14th. Rosenblatt Securities reiterated a “neutral” rating and set a $190.00 price target on shares of Zscaler in a report on Tuesday, May 28th. Needham & Company LLC reissued a “strong-buy” rating and set a $290.00 price target on shares of Zscaler in a research report on Friday, June 14th. Cantor Fitzgerald restated a “neutral” rating and issued a $200.00 price objective on shares of Zscaler in a research report on Friday, June 21st. Finally, Truist Financial reissued a “buy” rating and issued a $260.00 target price on shares of Zscaler in a research note on Monday, April 1st. Six equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $225.21.

Zscaler Stock Down 1.5 %

The company has a 50-day moving average of $175.98 and a 200-day moving average of $203.13. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of -352.71 and a beta of 0.85. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The company had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. On average, equities analysts predict that Zscaler, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp purchased a new position in shares of Zscaler in the 4th quarter valued at about $29,000. Parkside Financial Bank & Trust lifted its position in Zscaler by 582.6% during the 4th 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. GAMMA Investing LLC acquired a new stake in Zscaler during the 4th quarter worth approximately $37,000. Quadrant Capital Group LLC lifted its position in Zscaler by 66.7% during the 4th 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 period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its position in Zscaler by 109.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock worth $46,000 after acquiring an additional 109 shares during the period. Hedge funds and other institutional investors 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.