Zscaler’s (ZS) “Neutral” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their neutral rating on shares of Zscaler (NASDAQ:ZS) in a research report report published on Wednesday morning,Benzinga reports. Rosenblatt Securities currently has a $190.00 price objective on the stock.

ZS has been the subject of a number of other research reports. Barclays raised their price objective on Zscaler from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Morgan Stanley lowered their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 3rd. Piper Sandler raised their price objective on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research report on Friday, January 10th. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.94.

Zscaler Trading Up 1.4 %

Shares of NASDAQ ZS opened at $196.45 on Wednesday. The stock has a market capitalization of $30.14 billion, a PE ratio of -785.80 and a beta of 0.89. The stock’s fifty day simple moving average is $195.83 and its two-hundred day simple moving average is $191.54. Zscaler has a 12-month low of $153.45 and a 12-month high of $217.84.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating 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 return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. On average, equities analysts predict that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Syam Nair sold 3,682 shares of the business’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 transaction of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the business’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 transaction, the chief financial officer now owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its holdings in Zscaler by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock valued at $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in Zscaler by 30.9% in the fourth quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. 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.