Zscaler (NASDAQ:ZS) Stock Price Down 1.2% - What's Next?

Zscaler, Inc. (NASDAQ:ZS - Get Free Report)'s stock price traded down 1.2% during trading on Monday . The stock traded as low as $306.11 and last traded at $311.53. 803,206 shares were traded during mid-day trading, a decline of 65% from the average session volume of 2,295,158 shares. The stock had previously closed at $315.32.

Analysts Set New Price Targets

A number of equities analysts recently commented on ZS shares. Needham & Company LLC raised their price objective on shares of Zscaler from $240.00 to $310.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Stephens reiterated an "overweight" rating and set a $255.00 price target on shares of Zscaler in a report on Tuesday, May 27th. Rosenblatt Securities upped their price target on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Wedbush lifted their target price on Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, BMO Capital Markets increased their price target on shares of Zscaler from $233.00 to $295.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Stock Performance

The firm's 50-day simple moving average is $270.09 and its 200-day simple moving average is $222.02. The company has a market capitalization of $48.97 billion, a price-to-earnings ratio of -1,209.62 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same period last year, the business earned $0.88 earnings per share. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. Equities research analysts forecast that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total value of $1,385,400.00. Following the sale, the insider owned 95,612 shares of the company's stock, valued at $28,683,600. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $300.89, for a total value of $36,106,800.00. Following the sale, the insider directly owned 2,550,210 shares in the company, valued at $767,332,686.90. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 200,793 shares of company stock worth $58,752,794. Insiders own 18.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZS. Quintet Private Bank Europe S.A. lifted its holdings in shares of Zscaler by 4.7% in the first quarter. Quintet Private Bank Europe S.A. now owns 1,120 shares of the company's stock valued at $222,000 after purchasing an additional 50 shares in the last quarter. Corebridge Financial Inc. raised its position in Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company's stock valued at $2,110,000 after buying an additional 54 shares during the last quarter. Erste Asset Management GmbH lifted its stake in Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company's stock valued at $1,805,000 after acquiring an additional 56 shares in the last quarter. Ironwood Investment Management LLC lifted its stake in Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company's stock valued at $1,127,000 after acquiring an additional 64 shares in the last quarter. Finally, Cerity Partners LLC boosted its position in Zscaler by 0.3% during the 1st quarter. Cerity Partners LLC now owns 22,928 shares of the company's stock worth $4,549,000 after acquiring an additional 68 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.