Zscaler (NASDAQ:ZS) Stock Rating Lowered by Bank of America

Zscaler (NASDAQ:ZS) was downgraded by research analysts at Bank of America from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat reports. They currently have a $195.00 price target on the stock, down from their previous price target of $265.00. Bank of America‘s price objective indicates a potential upside of 20.18% from the stock’s current price.

A number of other research firms also recently commented on ZS. Mizuho downgraded shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Tuesday, July 16th. BTIG Research decreased their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday. Susquehanna decreased their price objective on shares of Zscaler from $275.00 to $210.00 and set a “positive” rating for the company in a report on Friday, May 31st. Scotiabank decreased their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday. Finally, Citigroup decreased their price objective on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $217.41.

Zscaler Stock Up 3.3 %

Shares of NASDAQ:ZS opened at $162.25 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a fifty day simple moving average of $188.36 and a 200 day simple moving average of $188.32. The firm has a market cap of $24.52 billion, a PE ratio of -318.14 and a beta of 0.85. Zscaler has a 12-month low of $146.59 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. On average, equities research analysts anticipate that Zscaler will post -0.32 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total value of $848,380.77. Following the completion of the transaction, the chief financial officer now directly owns 251,467 shares in the company, valued at $45,497,924.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Spire Wealth Management grew its holdings in shares of Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after purchasing an additional 49 shares during the last quarter. US Bancorp DE boosted its holdings in Zscaler by 0.3% in the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after acquiring an additional 59 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Zscaler by 8.6% in the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after acquiring an additional 66 shares during the last quarter. Kovack Advisors Inc. boosted its holdings in Zscaler by 3.4% in the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock valued at $393,000 after acquiring an additional 67 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

About Zscaler

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.