Credit Suisse Group Cuts Zscaler (NASDAQ:ZS) Price Target to $165.00

Zscaler (NASDAQ:ZS – Get Rating) had its price objective cut by Credit Suisse Group from $275.00 to $165.00 in a research report sent to investors on Wednesday, The Fly reports. They currently have an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Morgan Stanley cut Zscaler from an overweight rating to an equal weight rating and cut their price objective for the stock from $162.00 to $120.00 in a report on Thursday, January 12th. BMO Capital Markets lowered their target price on Zscaler from $145.00 to $133.00 and set an outperform rating for the company in a research note on Friday, March 3rd. UBS Group lowered their target price on Zscaler from $200.00 to $180.00 and set a buy rating for the company in a research note on Friday, December 2nd. Wedbush lowered their target price on Zscaler from $180.00 to $150.00 in a research note on Friday, March 3rd. Finally, Robert W. Baird lowered their price target on Zscaler from $220.00 to $180.00 and set an outperform rating for the company in a research report on Monday, December 5th. Fourteen investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $170.14.

Zscaler Price Performance

ZS opened at $105.49 on Wednesday. The stock has a 50-day moving average price of $122.67 and a 200-day moving average price of $135.00. Zscaler has a 12-month low of $99.64 and a 12-month high of $253.74. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 2.16. The stock has a market capitalization of $15.31 billion, a P/E ratio of -46.07 and a beta of 0.88.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 900 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $96,111.00. Following the transaction, the chief executive officer now directly owns 322,649 shares in the company, valued at approximately $34,455,686.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Jagtar Singh Chaudhry sold 900 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $96,111.00. Following the transaction, the chief executive officer now directly owns 322,649 shares of the company’s stock, valued at approximately $34,455,686.71. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 3,645 shares of the firm’s stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $106.79, for a total value of $389,249.55. Following the completion of the transaction, the insider now directly owns 132,553 shares in the company, valued at $14,155,334.87. The disclosure for this sale can be found here. Insiders have sold a total of 16,412 shares of company stock worth $1,752,637 in the last ninety days. Insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of institutional investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership raised its holdings in Zscaler by 156.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 4,774,237 shares of the company’s stock valued at $534,237,000 after acquiring an additional 2,909,057 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Zscaler during the first quarter valued at about $168,365,000. Norges Bank purchased a new position in shares of Zscaler during the fourth quarter valued at about $59,634,000. Marshall Wace LLP grew its position in shares of Zscaler by 1,278.9% during the third quarter. Marshall Wace LLP now owns 453,939 shares of the company’s stock valued at $74,616,000 after purchasing an additional 421,019 shares in the last quarter. Finally, Scge Management L.P. grew its position in shares of Zscaler by 67.9% during the second quarter. Scge Management L.P. now owns 987,000 shares of the company’s stock valued at $147,566,000 after purchasing an additional 399,000 shares in the last quarter. 45.33% of the stock is owned by institutional investors.

About Zscaler

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.