Mizuho Cuts Zscaler (NASDAQ:ZS) Price Target to $240.00

Zscaler (NASDAQ:ZS - Free Report) had its price objective lowered by Mizuho from $310.00 to $240.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on ZS. Macquarie restated an outperform rating and set a $245.00 price objective on shares of Zscaler in a research note on Tuesday, March 19th. Barclays cut their price objective on shares of Zscaler from $259.00 to $240.00 and set an overweight rating on the stock in a research report on Friday, March 1st. Wedbush increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the company an outperform rating in a research report on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Zscaler from $189.00 to $215.00 and gave the stock a neutral rating in a report on Monday, March 4th. Finally, KeyCorp raised Zscaler from a sector weight rating to an overweight rating and set a $220.00 price target on the stock in a research report on Thursday, April 18th. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $232.29.

Zscaler Stock Down 0.3 %

NASDAQ:ZS traded down $0.45 during mid-day trading on Friday, reaching $178.86. The company's stock had a trading volume of 1,456,189 shares, compared to its average volume of 2,127,506. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler has a 1 year low of $118.16 and a 1 year high of $259.61. The stock has a fifty day moving average of $183.68 and a 200-day moving average of $204.36. The firm has a market capitalization of $26.81 billion, a PE ratio of -188.27 and a beta of 0.85.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.08. The firm had revenue of $525.00 million during the quarter, compared to analysts' expectations of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Equities research analysts forecast that Zscaler will post -0.8 earnings per share for the current year.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now owns 255,943 shares in the company, valued at $49,435,390.45. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company's stock, valued at approximately $70,915,408.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Remo Canessa sold 7,707 shares of the company's stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the transaction, the chief financial officer now owns 255,943 shares of the company's stock, valued at $49,435,390.45. The disclosure for this sale can be found here. Insiders sold a total of 12,715 shares of company stock valued at $2,455,902 in the last three months. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Zscaler

Several institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in Zscaler in the 4th quarter valued at $29,000. Parkside Financial Bank & Trust lifted its stake in shares of Zscaler by 582.6% in the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company's stock worth $35,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC acquired a new position in Zscaler during the fourth quarter worth about $37,000. Quadrant Capital Group LLC grew its stake in Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock valued at $39,000 after acquiring an additional 70 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Zscaler by 109.0% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company's stock valued at $46,000 after acquiring an additional 109 shares during 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.