Zscaler, Inc. (NASDAQ:ZS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Zscaler, Inc. (NASDAQ:ZS) has received an average rating of “Moderate Buy” from the thirty-two analysts that are presently covering the stock, MarketBeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $220.48.

Several brokerages have recently weighed in on ZS. JPMorgan Chase & Co. decreased their price objective on Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. KeyCorp raised their price target on shares of Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Scotiabank reduced their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research report on Monday, November 18th. Finally, Susquehanna reissued a “positive” rating and set a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th.

Zscaler Stock Down 2.5 %

Shares of ZS stock opened at $204.96 on Friday. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The company has a market cap of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82. The business’s 50 day moving average is $188.79 and its two-hundred day moving average is $184.36.

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

Insider Buying and Selling at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’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 $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its stake in Zscaler by 278.9% in the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after acquiring an additional 25,099 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Zscaler in the third quarter valued at about $38,000. Sanctuary Advisors LLC raised its position in shares of Zscaler by 48.1% in the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after purchasing an additional 3,608 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Zscaler by 103.8% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after buying an additional 20,900 shares during the period. Finally, Coldstream Capital Management Inc. grew its stake in Zscaler by 50.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after buying an additional 761 shares during the last quarter. Institutional investors 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.