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

Zscaler (NASDAQ:ZS)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a note issued to investors on Monday, Benzinga reports. They presently have a $270.00 price objective on the stock. JMP Securities’ price target suggests a potential upside of 44.45% from the company’s current price.

ZS has been the topic of several other research reports. Stifel Nicolaus restated a “buy” rating and set a $220.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. BTIG Research dropped their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Susquehanna reiterated a “positive” rating and set a $210.00 price objective on shares of Zscaler in a report on Thursday, September 5th. Morgan Stanley boosted their target price on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Finally, Mizuho lowered shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price target on the stock. in a report on Tuesday, July 16th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average price target of $216.73.

Zscaler Stock Performance

NASDAQ ZS opened at $186.91 on Monday. The firm’s fifty day moving average is $179.37 and its two-hundred day moving average is $181.04. Zscaler has a one year low of $153.45 and a one year high of $259.61. The firm has a market cap of $28.50 billion, a PE ratio of -464.30 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the firm posted ($0.17) EPS. The business’s revenue was up 30.3% compared to the same quarter last year. Research analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. International Assets Investment Management LLC boosted its position in shares of Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after acquiring an additional 283,201 shares during the period. Quadrature Capital Ltd acquired a new stake in Zscaler in the 1st quarter worth $47,217,000. GuoLine Advisory Pte Ltd acquired a new position in shares of Zscaler during the third quarter valued at about $32,660,000. Jupiter Asset Management Ltd. bought a new stake in shares of Zscaler in the first quarter valued at about $27,954,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Zscaler during the second quarter worth about $25,287,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

About Zscaler

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.