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

Zscaler, Inc. (NASDAQ:ZS) has been given a consensus recommendation of “Moderate Buy” by the thirty-four research firms that are presently covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $218.39.

A number of equities analysts have weighed in on the stock. UBS Group reduced their price objective on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Sanford C. Bernstein decreased their price target on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Loop Capital cut their price objective on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Oppenheimer decreased their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Finally, Morgan Stanley boosted their price target on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Monday, August 26th.

Insider Transactions at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The disclosure for this sale can be found here. Insiders sold a total of 16,120 shares of company stock worth $2,761,034 over the last ninety days. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Private Advisor Group LLC lifted its position in shares of Zscaler by 42.8% during the 4th quarter. Private Advisor Group LLC now owns 2,101 shares of the company’s stock worth $465,000 after purchasing an additional 630 shares during the last quarter. Principal Securities Inc. acquired a new stake in Zscaler in the fourth quarter valued at $82,000. Dimensional Fund Advisors LP boosted its position in shares of Zscaler by 3.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 145,455 shares of the company’s stock worth $32,230,000 after acquiring an additional 4,257 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Zscaler by 721.1% during the 4th quarter. Principal Financial Group Inc. now owns 88,592 shares of the company’s stock worth $19,628,000 after acquiring an additional 77,802 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Zscaler by 27.4% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,945 shares of the company’s stock valued at $1,317,000 after acquiring an additional 1,278 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Up 0.1 %

ZS stock opened at $172.71 on Friday. Zscaler has a 52-week low of $146.59 and a 52-week high of $259.61. The firm has a market cap of $26.10 billion, a P/E ratio of -338.65 and a beta of 0.82. The company’s 50-day simple moving average is $181.28 and its 200-day simple moving average is $182.97.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) earnings per share. On average, analysts anticipate that Zscaler will post -0.92 earnings per share for the current fiscal year.

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.