Zscaler (NASDAQ:ZS) Given New $195.00 Price Target at Loop Capital

Zscaler (NASDAQ:ZS) had its target price cut by Loop Capital from $200.00 to $195.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Loop Capital’s target price suggests a potential downside of 1.89% from the company’s previous close.

ZS has been the topic of several other reports. Barclays lifted their target price on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird decreased their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets boosted their price target on Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a research note on Tuesday. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $224.38.

Zscaler Price Performance

Shares of NASDAQ ZS traded down $9.75 during midday trading on Tuesday, hitting $198.76. The company’s stock had a trading volume of 4,162,407 shares, compared to its average volume of 2,030,991. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61. The firm has a market capitalization of $30.50 billion, a price-to-earnings ratio of -496.89 and a beta of 0.82. The business’s fifty day simple moving average is $190.12 and its two-hundred day simple moving average is $184.80.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. Analysts anticipate that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of the business. Champlain Investment Partners LLC increased its stake in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after buying an additional 283,540 shares during the period. International Assets Investment Management LLC increased its position in Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after purchasing an additional 283,201 shares during the last quarter. GuoLine Advisory Pte Ltd acquired a new stake in shares of Zscaler during the 3rd quarter valued at about $32,660,000. Massachusetts Financial Services Co. MA acquired a new stake in Zscaler in the second quarter valued at approximately $25,287,000. Finally, Westfield Capital Management Co. LP grew its position in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after acquiring an additional 100,814 shares in the last quarter. Institutional investors and hedge funds 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.