Zscaler (NASDAQ:ZS) Price Target Lowered to $195.00 at Loop Capital

Zscaler (NASDAQ:ZS) had its target price reduced by Loop Capital from $200.00 to $195.00 in a research report report published on Tuesday morning,Benzinga reports. Loop Capital currently has a hold rating on the stock.

A number of other research analysts also recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 target price on shares of Zscaler in a research report on Tuesday. BMO Capital Markets upped their price target on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their price objective on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Finally, Oppenheimer upped their price objective on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Stock Down 4.7 %

Shares of ZS opened at $198.64 on Tuesday. The stock has a 50 day moving average of $190.79 and a 200 day moving average of $185.01. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS. Research analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’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 completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last three months. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC raised its stake in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Federated Hermes Inc. grew its position in Zscaler by 18.3% during the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the last quarter. 46.45% of the stock is owned by 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.