JMP Securities Reiterates “Market Outperform” Rating for Zscaler (NASDAQ:ZS)

Zscaler (NASDAQ:ZS)‘s stock had its “market outperform” rating reiterated by equities researchers at JMP Securities in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $240.00 price target on the stock, down from their prior price target of $270.00. JMP Securities’ price objective would suggest a potential upside of 16.30% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on the company. BNP Paribas initiated coverage on Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective for the company. KeyCorp lifted their price target on shares of Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research report on Tuesday. BTIG Research lifted their price target on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Stock Up 3.9 %

Shares of NASDAQ:ZS opened at $206.36 on Tuesday. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market cap of $31.66 billion, a PE ratio of -834.32 and a beta of 0.82. The business has a 50 day moving average of $191.28 and a 200-day moving average of $185.15.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the previous year, the company posted ($0.18) earnings per share. The business’s revenue was up 26.4% on a year-over-year basis. Equities research analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 over the last 90 days. 18.10% of the stock is owned by insiders.

Institutional Trading of Zscaler

A number of institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after acquiring an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC boosted its position in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after acquiring an additional 61,037 shares during the last quarter. Institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

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.