Robert W. Baird Cuts Zscaler (NASDAQ:ZS) Price Target to $300.00

Zscaler (NASDAQ:ZS) had its price objective trimmed by Robert W. Baird from $360.00 to $300.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also commented on ZS. Scotiabank cut their price objective on shares of Zscaler from $334.00 to $320.00 and set a “sector outperform” rating on the stock in a report on Wednesday, November 26th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $365.00 target price on shares of Zscaler in a research report on Wednesday, November 26th. UBS Group decreased their price target on shares of Zscaler from $350.00 to $340.00 and set a “buy” rating for the company in a research report on Wednesday, November 26th. Citigroup cut their price target on shares of Zscaler from $350.00 to $305.00 and set a “buy” rating on the stock in a report on Tuesday, January 13th. Finally, Morgan Stanley set a $305.00 price objective on shares of Zscaler in a research note on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, thirty-four have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $293.84.

Zscaler Stock Performance

Shares of ZS stock opened at $155.70 on Monday. The stock has a fifty day moving average price of $201.91 and a 200 day moving average price of $256.68. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $24.83 billion, a PE ratio of -598.82, a P/E/G ratio of 304.47 and a beta of 1.02. Zscaler has a 1 year low of $141.56 and a 1 year high of $336.99.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, November 25th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.11. The company had revenue of $788.11 million during the quarter, compared to analysts’ expectations of $773.86 million. Zscaler had a negative return on equity of 0.12% and a negative net margin of 1.45%.The business’s revenue for the quarter was up 25.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 earnings per share. Sell-side analysts forecast that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Robert Schlossman sold 2,349 shares of Zscaler stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $232.79, for a total value of $546,823.71. Following the transaction, the insider owned 74,653 shares in the company, valued at $17,378,471.87. This trade represents a 3.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Raj Judge sold 3,438 shares of the business’s stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $230.82, for a total value of $793,559.16. Following the transaction, the executive vice president directly owned 70,394 shares of the company’s stock, valued at $16,248,343.08. This represents a 4.66% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 19,350 shares of company stock valued at $4,471,509 over the last quarter. 17.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the business. Integrated Wealth Concepts LLC boosted its holdings in Zscaler by 19.9% during the first quarter. Integrated Wealth Concepts LLC now owns 1,439 shares of the company’s stock valued at $285,000 after purchasing an additional 239 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Zscaler by 8.2% in the 1st quarter. NewEdge Advisors LLC now owns 4,899 shares of the company’s stock valued at $972,000 after buying an additional 370 shares in the last quarter. Empowered Funds LLC boosted its stake in Zscaler by 9.2% in the 1st quarter. Empowered Funds LLC now owns 2,811 shares of the company’s stock valued at $558,000 after buying an additional 238 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Zscaler in the second quarter valued at $252,000. Finally, Cullen Frost Bankers Inc. raised its stake in Zscaler by 526.9% during the second quarter. Cullen Frost Bankers Inc. now owns 163 shares of the company’s stock worth $51,000 after acquiring an additional 137 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.

Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.