Zscaler (NASDAQ:ZS) PT Lowered to $230.00 at Citigroup

Zscaler (NASDAQ:ZS) had its price objective decreased by investment analysts at Citigroup from $240.00 to $230.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 32.24% from the stock’s previous close.

A number of other research analysts have also recently issued reports on ZS. Wells Fargo & Company reduced their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. BTIG Research lowered their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Needham & Company LLC lowered their price objective on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Barclays lowered their price target on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Finally, Piper Sandler lowered their price target 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 research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $218.09.

Zscaler Trading Up 2.5 %

NASDAQ:ZS opened at $173.93 on Friday. The stock has a market capitalization of $26.29 billion, a price-to-earnings ratio of -341.04 and a beta of 0.82. The firm has a fifty day simple moving average of $177.45 and a two-hundred day simple moving average of $181.14. Zscaler has a 12 month low of $149.63 and a 12 month high of $259.61.

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

Insiders Place Their Bets

In other Zscaler news, 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 value of $1,392,800.00. Following the sale, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction dated 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 transaction, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents 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 quarter. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

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