Zscaler (NASDAQ:ZS) Trading Up 4.6%

Zscaler, Inc. (NASDAQ:ZS) rose 4.6% during trading on Thursday . The stock traded as high as $187.21 and last traded at $187.21. Approximately 567,949 shares changed hands during trading, a decline of 75% from the average daily volume of 2,238,589 shares. The stock had previously closed at $178.92.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Morgan Stanley lowered their price target on Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Friday, May 24th. Macquarie reiterated an “outperform” rating and issued a $245.00 price target on shares of Zscaler in a research note on Tuesday, March 19th. Robert W. Baird dropped their price objective on Zscaler from $265.00 to $260.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. BMO Capital Markets reiterated an “outperform” rating and set a $208.00 target price on shares of Zscaler in a research note on Friday, June 14th. Finally, Stifel Nicolaus reduced their price target on Zscaler from $270.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. Six equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Stock Up 1.6 %

The stock’s fifty day simple moving average is $176.89 and its two-hundred day simple moving average is $202.77. The stock has a market capitalization of $29.05 billion, a P/E ratio of -376.84 and a beta of 0.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.39. The company had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. As a group, research analysts expect that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Activity

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler 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 of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently added to or reduced their stakes in ZS. 1832 Asset Management L.P. bought a new stake in Zscaler in the 4th quarter valued at about $217,683,000. Norges Bank acquired a new stake in Zscaler in the fourth quarter valued at approximately $117,599,000. Polar Capital Holdings Plc bought a new stake in shares of Zscaler during the third quarter valued at approximately $61,681,000. Trivest Advisors Ltd acquired a new position in shares of Zscaler during the fourth quarter worth approximately $72,051,000. Finally, Quadrature Capital Ltd acquired a new stake in Zscaler in the 1st quarter valued at $47,217,000. 46.45% of the stock is owned by institutional investors and hedge funds.

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.