Susquehanna Reaffirms Positive Rating for Zscaler (NASDAQ:ZS)

Zscaler (NASDAQ:ZS)‘s stock had its “positive” rating reissued by research analysts at Susquehanna in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $210.00 price objective on the stock. Susquehanna’s price objective points to a potential upside of 31.88% from the stock’s current price.

A number of other brokerages have also recently weighed in on ZS. BMO Capital Markets decreased their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday. Sanford C. Bernstein reduced their price target on Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Citigroup reduced their price target on Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Loop Capital reduced their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Oppenheimer reduced their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.41.

Zscaler Stock Up 1.3 %

Shares of ZS traded up $2.11 on Thursday, reaching $159.24. The company’s stock had a trading volume of 487,477 shares, compared to its average volume of 2,124,828. The stock has a market capitalization of $24.07 billion, a PE ratio of -311.37 and a beta of 0.85. The firm has a fifty day moving average of $188.90 and a 200-day moving average of $188.50. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. Equities analysts predict that Zscaler will post -0.32 EPS for the current year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently bought and sold shares of ZS. Quest Partners LLC purchased a new position in Zscaler in the second quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler during the fourth quarter valued at about $29,000. Quadrant Capital Group LLC grew its stake in Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Asset Dedication LLC grew its stake in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new position in Zscaler in the second quarter worth about $50,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.