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

Zscaler (NASDAQ:ZS – Get Rating) had its price target decreased by Credit Suisse Group from $275.00 to $165.00 in a report released on Wednesday, The Fly reports. Credit Suisse Group currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on ZS. Barclays lowered their target price on shares of Zscaler from $143.00 to $135.00 in a report on Friday, March 3rd. BMO Capital Markets decreased their price objective on shares of Zscaler from $145.00 to $133.00 and set an outperform rating on the stock in a report on Friday, March 3rd. Wells Fargo & Company decreased their price objective on shares of Zscaler from $160.00 to $156.00 and set an overweight rating on the stock in a report on Friday, March 3rd. Needham & Company LLC reissued a strong-buy rating and set a $210.00 price objective on shares of Zscaler in a report on Monday, February 27th. Finally, Robert W. Baird decreased their price objective on shares of Zscaler from $220.00 to $180.00 and set an outperform rating on the stock in a report on Monday, December 5th. Fourteen 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $170.14.

Zscaler Stock Down 2.4 %

Shares of NASDAQ:ZS opened at $105.49 on Wednesday. The company has a market cap of $15.31 billion, a price-to-earnings ratio of -46.07 and a beta of 0.88. The firm’s 50-day simple moving average is $122.67 and its 200-day simple moving average is $135.00. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 2.16. Zscaler has a fifty-two week low of $99.64 and a fifty-two week high of $253.74.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 6,229 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $665,194.91. Following the sale, the chief financial officer now owns 295,863 shares of the company’s stock, valued at approximately $31,595,209.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, COO Dali Rajic sold 5,638 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total value of $602,082.02. Following the completion of the transaction, the chief operating officer now owns 291,182 shares in the company, valued at approximately $31,095,325.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 6,229 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $106.79, for a total transaction of $665,194.91. Following the completion of the transaction, the chief financial officer now owns 295,863 shares of the company’s stock, valued at approximately $31,595,209.77. The disclosure for this sale can be found here. Insiders have sold a total of 16,412 shares of company stock valued at $1,752,637 in the last quarter. Company insiders own 19.80% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. B. Riley Wealth Advisors Inc. boosted its position in shares of Zscaler by 3.4% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,243 shares of the company’s stock valued at $475,000 after purchasing an additional 138 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Zscaler by 2.0% during the 4th quarter. Victory Capital Management Inc. now owns 84,247 shares of the company’s stock valued at $9,427,000 after purchasing an additional 1,658 shares in the last quarter. North Star Asset Management Inc. lifted its stake in Zscaler by 8.3% during the fourth quarter. North Star Asset Management Inc. now owns 24,933 shares of the company’s stock valued at $2,790,000 after buying an additional 1,912 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Zscaler by 6.9% during the fourth quarter. Macquarie Group Ltd. now owns 32,088 shares of the company’s stock valued at $3,590,000 after buying an additional 2,064 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. purchased a new stake in Zscaler during the fourth quarter valued at about $45,000. Institutional investors own 45.33% of the company’s stock.

Zscaler Company Profile

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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.