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

Shares of Zscaler, Inc. (NASDAQ:ZS) have received a consensus recommendation of “Moderate Buy” from the thirty-four analysts that are covering the firm, Marketbeat.com reports. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $224.84.

Several research firms have commented on ZS. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Robert W. Baird cut their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley decreased their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 3rd. UBS Group cut their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Finally, KeyCorp boosted their price target on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,630 shares of company stock worth $3,155,697. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its holdings in Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Zscaler by 10.3% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,377 shares of the company’s stock valued at $3,340,000 after acquiring an additional 1,628 shares in the last quarter. Valley Brook Capital Group Inc. raised its position in Zscaler by 12.6% during the second quarter. Valley Brook Capital Group Inc. now owns 1,897 shares of the company’s stock worth $365,000 after acquiring an additional 213 shares during the last quarter. Burney Co. purchased a new stake in shares of Zscaler in the second quarter valued at about $1,331,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Zscaler in the second quarter valued at approximately $1,866,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Trading Down 1.6 %

ZS stock opened at $184.56 on Tuesday. The business’s fifty day moving average price is $196.91 and its 200 day moving average price is $187.99. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The company has a market capitalization of $28.32 billion, a PE ratio of -738.24 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s quarterly revenue was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) earnings per share. Research analysts predict that Zscaler will post -0.24 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.