Zscaler (NASDAQ:ZS) Shares Down 16.4%

Zscaler Inc (NASDAQ:ZS) fell 16.4% during mid-day trading on Friday . The stock traded as low as $52.26 and last traded at $54.51, 13,201,175 shares traded hands during mid-day trading. An increase of 435% from the average session volume of 2,467,512 shares. The stock had previously closed at $65.18.

Several brokerages have issued reports on ZS. Morgan Stanley reaffirmed a “sell” rating and issued a $40.00 price target on shares of Zscaler in a report on Thursday, December 5th. Barclays reaffirmed a “hold” rating and issued a $64.00 price target on shares of Zscaler in a report on Thursday. Cowen reaffirmed a “buy” rating and issued a $70.00 price target on shares of Zscaler in a report on Wednesday, December 4th. BidaskClub raised shares of Zscaler from a “buy” rating to a “strong-buy” rating in a report on Friday. Finally, Rosenblatt Securities reaffirmed a “hold” rating and issued a $58.00 price target (up previously from $50.00) on shares of Zscaler in a report on Friday. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $64.84.

The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.08. The company has a market cap of $8.34 billion, a PE ratio of -181.70 and a beta of 1.07. The stock’s 50 day simple moving average is $57.72 and its two-hundred day simple moving average is $54.78.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, December 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.11. Zscaler had a negative net margin of 11.45% and a negative return on equity of 11.23%. The company had revenue of $93.59 million during the quarter, compared to analyst estimates of $89.81 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The business’s quarterly revenue was up 47.9% compared to the same quarter last year. Analysts forecast that Zscaler Inc will post -0.34 EPS for the current year.

In other Zscaler news, insider Amit Sinha sold 887 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $47.00, for a total transaction of $41,689.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 2,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $50.00, for a total transaction of $100,000.00. Following the transaction, the insider now directly owns 94,966 shares of the company’s stock, valued at $4,748,300. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,187 shares of company stock valued at $13,532,524. Company insiders own 23.80% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Amundi Pioneer Asset Management Inc. bought a new position in shares of Zscaler in the 1st quarter worth about $149,000. Wedbush Securities Inc. bought a new position in shares of Zscaler in the 3rd quarter worth about $273,000. Strs Ohio lifted its position in shares of Zscaler by 75.0% in the 3rd quarter. Strs Ohio now owns 4,206 shares of the company’s stock worth $198,000 after buying an additional 1,802 shares during the last quarter. State of New Jersey Common Pension Fund D bought a new position in shares of Zscaler in the 3rd quarter worth about $2,287,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Zscaler in the 3rd quarter worth about $154,000. 36.87% of the stock is owned by institutional investors.

Zscaler Company Profile (NASDAQ:ZS)

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

Further Reading: Shanghai Stock Exchange Composite Index

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