Zscaler (NASDAQ:ZS) PT Lowered to $65.00

Zscaler (NASDAQ:ZS) had its price target reduced by stock analysts at Robert W. Baird from $70.00 to $65.00 in a report released on Wednesday, Marketbeat.com reports. The brokerage currently has a “positive” rating on the stock. Robert W. Baird’s price objective indicates a potential upside of 35.11% from the company’s current price.

Several other equities analysts have also issued reports on the stock. DA Davidson assumed coverage on shares of Zscaler in a report on Wednesday, November 27th. They issued a “buy” rating on the stock. Citigroup began coverage on Zscaler in a report on Monday, October 14th. They set a “neutral” rating and a $50.00 price objective for the company. Wedbush lowered their price objective on Zscaler from $90.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. Barclays dropped their target price on Zscaler from $80.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Finally, OTR Global lowered Zscaler from a “mixed” rating to a “negative” rating in a research report on Monday, August 19th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. Zscaler currently has an average rating of “Hold” and a consensus price target of $62.70.

NASDAQ:ZS opened at $48.11 on Wednesday. Zscaler has a fifty-two week low of $34.21 and a fifty-two week high of $89.54. The stock has a market capitalization of $6.16 billion, a P/E ratio of -400.92 and a beta of 1.22. The company’s 50-day simple moving average is $45.74 and its 200-day simple moving average is $64.47.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, December 3rd. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.11. Zscaler had a negative net margin of 9.46% and a negative return on equity of 9.46%. The firm had revenue of $93.59 million during the quarter, compared to analyst estimates of $89.81 million. During the same quarter in the previous year, the business posted $0.01 EPS. Zscaler’s revenue was up 47.9% on a year-over-year basis. Equities analysts expect that Zscaler will post -0.24 earnings per share for the current fiscal year.

In related news, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.80, for a total transaction of $46,800.00. Also, insider Robert Schlossman sold 2,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $50.00, for a total transaction of $100,000.00. Following the transaction, the insider now owns 94,966 shares of the company’s stock, valued at $4,748,300. The disclosure for this sale can be found here. In the last quarter, insiders have sold 7,000 shares of company stock worth $345,300. Company insiders own 23.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. CSat Investment Advisory L.P. acquired a new position in shares of Zscaler in the 2nd quarter valued at about $25,000. Meadow Creek Investment Management LLC purchased a new stake in shares of Zscaler in the second quarter worth about $32,000. Neuburgh Advisers LLC acquired a new stake in Zscaler during the second quarter worth about $44,000. Tyers Asset Management LLC acquired a new stake in Zscaler during the second quarter worth about $56,000. Finally, Advisory Services Network LLC purchased a new position in Zscaler during the second quarter valued at approximately $63,000. 36.46% of the stock is currently owned by institutional investors.

Zscaler Company Profile

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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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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