Zscaler (NASDAQ:ZS) Trading 0.4% Higher

Zscaler, Inc. (NASDAQ:ZS) shares traded up 0.4% on Monday . The company traded as high as $180.90 and last traded at $180.28. 246,429 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,248,242 shares. The stock had previously closed at $179.55.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Zscaler from $215.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Susquehanna reduced their price objective on Zscaler from $275.00 to $210.00 and set a “positive” rating on the stock in a research note on Friday, May 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $200.00 target price on shares of Zscaler in a research note on Friday, June 21st. Stifel Nicolaus reduced their price target on Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. upgraded Zscaler from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $205.00 to $230.00 in a research report on Friday, June 14th. 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 company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average target price of $225.21.

Zscaler Stock Performance

The company has a market capitalization of $27.04 billion, a PE ratio of -352.69 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. The business’s 50-day moving average is $175.98 and its 200-day moving average is $203.13.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.39. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. On average, research analysts anticipate that Zscaler, Inc. will post -0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Jones Financial Companies Lllp bought a new stake in shares of Zscaler in the 4th quarter worth $29,000. GAMMA Investing LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $37,000. Parkside Financial Bank & Trust increased its holdings in Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after buying an additional 134 shares in the last quarter. Quadrant Capital Group LLC raised its position in Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its stake in Zscaler by 109.0% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after acquiring an additional 109 shares during the period. 46.45% of the stock is owned by institutional investors.

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.