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

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned an average recommendation of “Moderate Buy” from the thirty-four brokerages that are currently covering the stock, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $225.47.

A number of research firms have commented on ZS. Canaccord Genuity Group lifted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. BMO Capital Markets lifted their price objective on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Citigroup lifted their price objective on shares of Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. Corporate insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently bought and sold shares of ZS. Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter worth $28,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler in the third quarter worth $31,000. True Wealth Design LLC increased its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares in the last quarter. 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 worth $32,000 after acquiring an additional 104 shares in the last quarter. Finally, Modus Advisors LLC acquired a new stake in shares of Zscaler in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

Shares of ZS opened at $192.93 on Friday. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61. The stock has a market cap of $29.60 billion, a PE ratio of -771.72 and a beta of 0.87. The firm has a fifty day moving average price of $195.52 and a 200 day moving average price of $187.88.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) earnings per share. As a group, equities analysts expect that Zscaler will post -0.16 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.