Citigroup Trims Zscaler (NASDAQ:ZS) Target Price to $230.00

Zscaler (NASDAQ:ZS) had its target price cut by Citigroup from $240.00 to $230.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company cut their price objective on shares of Zscaler from $182.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday, September 4th. Oppenheimer decreased their price objective on shares of Zscaler from $260.00 to $230.00 and set an outperform rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. decreased their price target on Zscaler from $230.00 to $220.00 and set an overweight rating for the company in a research report on Wednesday, September 4th. Needham & Company LLC dropped their price target on Zscaler from $290.00 to $235.00 and set a strong-buy rating on the stock in a report on Wednesday, September 4th. Finally, Piper Sandler lowered their price objective on shares of Zscaler from $255.00 to $215.00 and set an overweight rating on the stock in a research report on Wednesday, September 4th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Zscaler has a consensus rating of Moderate Buy and a consensus target price of $218.09.

Zscaler Stock Up 2.5 %

Shares of NASDAQ:ZS opened at $173.93 on Friday. The business has a fifty day simple moving average of $177.45 and a 200 day simple moving average of $181.04. Zscaler has a 12-month low of $149.63 and a 12-month high of $259.61. The firm has a market cap of $26.29 billion, a P/E ratio of -341.04 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the firm earned ($0.17) earnings per share. Zscaler’s quarterly revenue was up 30.3% on a year-over-year basis. As a group, equities research analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Activity at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,067 shares of company stock valued at $4,995,912 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new stake in shares of Zscaler in the 4th quarter worth about $29,000. Tower Research Capital LLC TRC increased its holdings in Zscaler by 19.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,164 shares of the company’s stock valued at $2,252,000 after buying an additional 1,670 shares during the last quarter. Cibc World Markets Corp raised its position in shares of Zscaler by 41.4% during the 4th quarter. Cibc World Markets Corp now owns 23,733 shares of the company’s stock worth $5,258,000 after purchasing an additional 6,948 shares during the period. Vinva Investment Management Ltd raised its stake in Zscaler by 48.6% during the 4th quarter. Vinva Investment Management Ltd now owns 4,245 shares of the company’s stock valued at $953,000 after acquiring an additional 1,389 shares in the last quarter. Finally, Azimuth Capital Investment Management LLC acquired a new stake in shares of Zscaler in the fourth quarter valued at $244,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.