Zscaler (NASDAQ:ZS) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Zscaler (NASDAQ:ZS) in a report published on Tuesday,Benzinga reports. Royal Bank of Canada currently has a $230.00 price target on the stock.

ZS has been the subject of a number of other research reports. BMO Capital Markets upped their price objective on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday. Scotiabank increased their price objective on shares of Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $240.00 target price (down previously from $270.00) on shares of Zscaler in a research note on Tuesday. Wells Fargo & Company dropped their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 4th. Finally, Oppenheimer reduced their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $198.64 on Tuesday. The business has a 50 day moving average price of $190.79 and a 200 day moving average price of $185.01. Zscaler has a twelve month low of $153.45 and a twelve month 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 the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the prior year, the business earned ($0.18) earnings per share. Zscaler’s revenue for the quarter was up 26.4% compared to the same quarter last year. Research analysts forecast that Zscaler will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock worth $5,256,651. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC increased its stake in Zscaler by 278.9% during the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after purchasing an additional 25,099 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Zscaler during the third quarter worth $38,000. Sanctuary Advisors LLC raised its holdings in shares of Zscaler by 48.1% during the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock worth $1,899,000 after acquiring an additional 3,608 shares during the period. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Zscaler by 103.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after acquiring an additional 20,900 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Zscaler by 50.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock worth $397,000 after purchasing an additional 761 shares during the period. Institutional investors 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.