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

Shares of Zscaler, Inc. (NASDAQ:ZS) have earned a consensus recommendation of “Moderate Buy” from the thirty-four brokerages that are currently covering the company, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $225.47.

ZS has been the topic of several analyst reports. Stifel Nicolaus increased their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Scotiabank raised their target price on shares of Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and set a $240.00 target price on shares of Zscaler in a research report on Friday, January 10th. Susquehanna upped their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday, December 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $240.00 price objective (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last three months. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in ZS. Corebridge Financial Inc. boosted its position in Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after acquiring an additional 54 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in shares of Zscaler in the fourth quarter worth $221,000. Fox Run Management L.L.C. acquired a new position in Zscaler during the fourth quarter worth $1,671,000. KLP Kapitalforvaltning AS bought a new position in Zscaler in the fourth quarter valued at $5,845,000. Finally, Vestor Capital LLC acquired a new stake in Zscaler in the 4th quarter valued at $2,504,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Trading Down 1.5 %

Shares of ZS stock opened at $209.24 on Wednesday. The company has a market capitalization of $32.11 billion, a price-to-earnings ratio of -836.96 and a beta of 0.89. Zscaler has a 1-year low of $153.45 and a 1-year high of $256.42. The stock’s fifty day simple moving average is $194.49 and its 200-day simple moving average is $188.70.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data 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 return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter last year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, sell-side analysts predict that Zscaler will post -0.1 EPS for the current year.

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.