Zscaler (NASDAQ:ZS) had its price target reduced by UBS Group from $70.00 to $53.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. UBS Group currently has a neutral rating on the stock.
ZS has been the topic of several other research reports. ValuEngine downgraded Zscaler from a buy rating to a hold rating in a report on Thursday, August 1st. Cowen cut their price target on Zscaler from $85.00 to $70.00 and set an outperform rating on the stock in a report on Wednesday, September 11th. BMO Capital Markets cut their price target on Zscaler from $100.00 to $60.00 and set a market perform rating on the stock in a report on Wednesday, September 11th. They noted that the move was a valuation call. Needham & Company LLC reissued a strong-buy rating and issued a $89.00 price target (up previously from $65.00) on shares of Zscaler in a report on Friday, May 31st. Finally, Wedbush cut their price target on Zscaler from $90.00 to $80.00 and set an outperform rating on the stock in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Zscaler currently has a consensus rating of Hold and a consensus price target of $67.50.
Shares of ZS opened at $47.48 on Thursday. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of -395.67 and a beta of 1.29. The stock has a 50 day moving average of $75.30 and a 200-day moving average of $72.12. Zscaler has a 52 week low of $30.72 and a 52 week high of $89.54.
Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.06. The company had revenue of $86.11 million during the quarter, compared to analyst estimates of $82.15 million. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. As a group, sell-side analysts forecast that Zscaler will post -0.22 EPS for the current year.
In other Zscaler news, insider Robert Schlossman sold 1,213 shares of Zscaler stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $77.80, for a total transaction of $94,371.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Karen Blasing sold 1,000 shares of Zscaler stock in a transaction on Monday, July 1st. The shares were sold at an average price of $78.23, for a total value of $78,230.00. The disclosure for this sale can be found here. Insiders have sold a total of 188,774 shares of company stock worth $15,653,839 in the last ninety days. 27.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina bought a new stake in shares of Zscaler in the 2nd quarter worth $1,891,000. Mackenzie Financial Corp bought a new stake in shares of Zscaler in the 2nd quarter worth $943,000. Griffin Asset Management Inc. bought a new stake in shares of Zscaler in the 2nd quarter worth $115,000. Harvest Fund Management Co. Ltd bought a new stake in shares of Zscaler in the 2nd quarter worth $85,000. Finally, Kayne Anderson Rudnick Investment Management LLC raised its stake in shares of Zscaler by 38.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 137,602 shares of the company’s stock worth $10,546,000 after buying an additional 38,354 shares in the last quarter. 33.49% 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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