BMO Capital Markets Trims Zscaler (NASDAQ:ZS) Target Price to $197.00

Zscaler (NASDAQ:ZS) had its target price trimmed by BMO Capital Markets from $208.00 to $197.00 in a report published on Wednesday, Marketbeat.com reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on ZS. Scotiabank cut their target price on shares of Zscaler from $250.00 to $210.00 and set a sector outperform rating on the stock in a report on Friday, May 31st. Royal Bank of Canada raised their price target on Zscaler from $215.00 to $230.00 and gave the stock an outperform rating in a report on Friday, May 31st. Needham & Company LLC lowered their price objective on Zscaler from $290.00 to $235.00 and set a strong-buy rating for the company in a research note on Wednesday. Stifel Nicolaus dropped their target price on Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a research report on Thursday, May 16th. Finally, Sanford C. Bernstein reduced their price target on shares of Zscaler from $280.00 to $270.00 and set an outperform rating for the company in a report on Friday, May 31st. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler has an average rating of Moderate Buy and a consensus price target of $218.39.

Zscaler Stock Performance

Shares of Zscaler stock opened at $156.78 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler has a 1 year low of $146.59 and a 1 year high of $259.61. The firm’s 50-day simple moving average is $187.65 and its 200-day simple moving average is $187.23. The firm has a market cap of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. Zscaler’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. Equities analysts forecast that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Large investors have recently made changes to their positions in the business. Van ECK Associates Corp boosted its holdings in shares of Zscaler by 16.4% during the fourth quarter. Van ECK Associates Corp now owns 957 shares of the company’s stock worth $212,000 after purchasing an additional 135 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Zscaler by 2.7% during the 4th quarter. Victory Capital Management Inc. now owns 119,369 shares of the company’s stock valued at $26,447,000 after buying an additional 3,119 shares during the period. New York Life Investment Management LLC grew its holdings in shares of Zscaler by 12.8% during the 4th quarter. New York Life Investment Management LLC now owns 1,555 shares of the company’s stock valued at $345,000 after acquiring an additional 176 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Zscaler by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 14,195 shares of the company’s stock worth $3,145,000 after acquiring an additional 275 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Zscaler by 18.4% during the fourth quarter. Amalgamated Bank now owns 11,038 shares of the company’s stock worth $2,446,000 after acquiring an additional 1,715 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.