Zscaler (NASDAQ:ZS) Given “Buy” Rating at Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Zscaler (NASDAQ:ZS) in a report released on Wednesday morning, Benzinga reports. They currently have a $220.00 price objective on the stock.

ZS has been the topic of a number of other reports. JMP Securities restated a market outperform rating and issued a $270.00 price objective on shares of Zscaler in a research note on Monday, June 17th. Needham & Company LLC lowered their price target on shares of Zscaler from $290.00 to $235.00 and set a strong-buy rating on the stock in a research report on Wednesday. Cantor Fitzgerald cut their price objective on shares of Zscaler from $200.00 to $170.00 and set a neutral rating for the company in a report on Wednesday. Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday. Finally, Robert W. Baird dropped their target price on Zscaler from $260.00 to $225.00 and set an outperform rating on the stock in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $218.39.

Zscaler Stock Down 3.4 %

Zscaler stock opened at $156.78 on Wednesday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82. The firm has a 50 day moving average price of $187.65 and a 200-day moving average price of $187.23. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. Zscaler’s revenue was up 30.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.17) earnings per share. As a group, equities analysts predict that Zscaler will post -0.38 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of Zscaler

Several 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 valued at about $29,000. Quest Partners LLC bought a new stake in Zscaler in the second quarter valued at approximately $28,000. Quadrant Capital Group LLC boosted its stake in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after purchasing an additional 70 shares during the period. Asset Dedication LLC grew its holdings in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. Finally, Spire Wealth Management increased its stake in shares of Zscaler by 24.5% in the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after buying an additional 49 shares during the period. 46.45% of the stock is currently owned by hedge funds and other 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.