Zscaler (NASDAQ:ZS) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Zscaler (NASDAQ:ZS) in a report published on Friday,Benzinga reports. Needham & Company LLC currently has a $240.00 price target on the stock.

Several other equities analysts also recently commented on the company. Canaccord Genuity Group upped their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Guggenheim restated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. BNP Paribas started coverage on shares of Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. Loop Capital reduced their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Trading Up 1.4 %

Shares of ZS opened at $189.98 on Friday. The company’s fifty day simple moving average is $196.72 and its 200-day simple moving average is $188.10. The company has a market cap of $29.15 billion, a P/E ratio of -759.92 and a beta of 0.87. 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, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the prior year, the company posted ($0.18) EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. Analysts predict that Zscaler will post -0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. 18.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Several large investors have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth about $28,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the third quarter worth approximately $31,000. True Wealth Design LLC grew its holdings in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares during the period. Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Zscaler during the 4th quarter worth approximately $36,000. 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.