Zscaler, Inc. (NASDAQ:ZS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS) have been given a consensus recommendation of “Moderate Buy” by the thirty-five ratings firms that are currently covering the firm, MarketBeat reports. Ten analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $216.97.

Several analysts have issued reports on ZS shares. Susquehanna restated a “positive” rating and issued a $210.00 price target on shares of Zscaler in a research report on Thursday, September 5th. Cantor Fitzgerald cut their price target on Zscaler from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. UBS Group reduced their price objective on Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Finally, Barclays reduced their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th.

Insider Transactions at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. 19.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently modified their holdings of the stock. Quest Partners LLC acquired a new position in shares of Zscaler in the 2nd quarter valued at $28,000. 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 valued at $39,000 after acquiring an additional 166 shares during the period. American Capital Advisory LLC bought a new stake in shares of Zscaler in the second quarter worth about $50,000. GAMMA Investing LLC raised its position in shares of Zscaler by 103.2% during the first quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock worth $61,000 after purchasing an additional 160 shares during the period. Finally, Sanders Morris Harris LLC bought a new position in shares of Zscaler during the 1st quarter valued at about $67,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Stock Performance

NASDAQ ZS opened at $191.55 on Thursday. The stock has a 50-day simple moving average of $180.13 and a 200 day simple moving average of $180.72. Zscaler has a twelve month low of $152.60 and a twelve month high of $259.61. The stock has a market capitalization of $28.95 billion, a PE ratio of -375.59 and a beta of 0.82.

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