Rosenblatt Securities Reiterates Neutral Rating for Zscaler (NASDAQ:ZS)

Zscaler (NASDAQ:ZS)‘s stock had its “neutral” rating reaffirmed by stock analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $190.00 price target on the stock. Rosenblatt Securities’ price objective would indicate a potential downside of 6.02% from the company’s current price.

ZS has been the topic of a number of other research reports. Jefferies Financial Group increased their price target on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. BMO Capital Markets increased their target price on Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Barclays boosted their price target on Zscaler from $220.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Stifel Nicolaus increased their price objective on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. boosted their target price on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Nine analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $232.84.

Zscaler Price Performance

Shares of ZS opened at $202.16 on Wednesday. The firm has a market capitalization of $31.02 billion, a PE ratio of -808.64 and a beta of 0.89. The company has a 50-day simple moving average of $196.01 and a two-hundred day simple moving average of $191.57. Zscaler has a one year low of $153.45 and a one year high of $217.84.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same period in the previous year, the company posted ($0.18) earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. Analysts expect that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in shares of Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock worth $298,710,000 after purchasing an additional 32,545 shares during the period. Pictet Asset Management Holding SA boosted its position in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Zscaler by 28.2% in the 3rd 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 period. AQR Capital Management LLC lifted its stake in shares of Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after purchasing an additional 525,956 shares during the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in Zscaler by 30.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after purchasing an additional 204,996 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other 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.