Zscaler (NASDAQ:ZS) Earns “Outperform” Rating from Royal Bank of Canada

Zscaler (NASDAQ:ZS)‘s stock had its “outperform” rating reissued by investment analysts at Royal Bank of Canada in a report issued on Tuesday,Benzinga reports. They presently have a $230.00 price target on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 11.46% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company decreased their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. BNP Paribas initiated coverage on shares of Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target for the company. Stifel Nicolaus upped their price target on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Loop Capital decreased their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. Finally, Canaccord Genuity Group upped their price target on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.84.

Zscaler Trading Up 3.9 %

Shares of NASDAQ:ZS opened at $206.36 on Tuesday. The stock has a market capitalization of $31.66 billion, a PE ratio of -834.32 and a beta of 0.82. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61. The firm has a fifty day moving average price of $191.28 and a 200 day moving average price of $185.15.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the prior year, the company earned ($0.18) earnings per share. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds have recently modified their holdings of the stock. Fred Alger Management LLC grew its stake in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares during the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares during the last quarter. Creative Planning boosted its stake in Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after acquiring an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in Zscaler in the second quarter valued at approximately $25,287,000. Finally, Strategic Advisors LLC boosted its stake in Zscaler by 470.0% in the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after acquiring an additional 6,712 shares during the last quarter. 46.45% of the stock is owned by institutional investors.

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.