Guggenheim Reiterates “Neutral” Rating for Zscaler (NASDAQ:ZS)

Zscaler (NASDAQ:ZS)‘s stock had its “neutral” rating reissued by investment analysts at Guggenheim in a research note issued on Tuesday,Benzinga reports.

Several other equities research analysts also recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a report on Tuesday. Jefferies Financial Group lifted their target price on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company cut their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. Wedbush reduced their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, BNP Paribas began coverage on shares of Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Zscaler presently has an average rating of “Moderate Buy” and an average price target of $224.38.

Zscaler Stock Down 4.7 %

NASDAQ ZS traded down $9.75 during trading hours on Tuesday, hitting $198.76. 4,162,407 shares of the company were exchanged, compared to its average volume of 2,030,991. The stock has a market cap of $30.50 billion, a PE ratio of -496.89 and a beta of 0.82. The stock has a 50-day moving average price of $190.12 and a 200 day moving average price of $184.80. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.18) earnings per share. As a group, sell-side analysts anticipate that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 in the last three months. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its stake in shares of Zscaler by 8.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after buying an additional 66 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the period. American Trust lifted its holdings in Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after acquiring an additional 70 shares during the period. Valley Brook Capital Group Inc. grew its stake in shares of Zscaler by 4.0% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after purchasing an additional 75 shares during the period. Finally, Swedbank AB lifted its stake in shares of Zscaler by 0.8% in the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock valued at $1,737,000 after purchasing an additional 76 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.