Stephens Initiates Coverage on Zscaler (NASDAQ:ZS)

Stephens initiated coverage on shares of Zscaler (NASDAQ:ZSGet Rating) in a report issued on Wednesday, MarketBeat reports. The brokerage issued an overweight rating and a $200.00 price target on the stock.

A number of other brokerages have also weighed in on ZS. Canaccord Genuity Group reduced their target price on shares of Zscaler from $400.00 to $320.00 and set a buy rating for the company in a research note on Tuesday, February 22nd. Morgan Stanley reduced their target price on shares of Zscaler from $325.00 to $225.00 and set an overweight rating for the company in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Zscaler from $430.00 to $280.00 and set a buy rating for the company in a research note on Friday, February 25th. UBS Group reduced their target price on shares of Zscaler from $350.00 to $325.00 and set a buy rating for the company in a research note on Friday, February 25th. Finally, Loop Capital reduced their target price on shares of Zscaler from $360.00 to $245.00 in a research note on Friday, February 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $248.26.

Shares of ZS stock opened at $160.00 on Wednesday. Zscaler has a 12-month low of $125.12 and a 12-month high of $376.11. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of -67.23 and a beta of 1.09. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 1.74. The firm has a fifty day moving average of $198.42 and a 200-day moving average of $250.58.

Zscaler (NASDAQ:ZSGet Rating) last announced its quarterly earnings results on Thursday, May 26th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.06. The company had revenue of $286.81 million during the quarter, compared to analyst estimates of $271.47 million. Zscaler had a negative net margin of 38.47% and a negative return on equity of 51.11%. The firm’s revenue was up 62.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.30) EPS. Research analysts expect that Zscaler will post -2.34 earnings per share for the current year.

In other Zscaler news, Director Karen Blasing sold 1,000 shares of the stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $250.00, for a total transaction of $250,000.00. Following the transaction, the director now owns 2,381 shares in the company, valued at approximately $595,250. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Remo Canessa sold 4,696 shares of the stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $203.09, for a total transaction of $953,710.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,779 shares of company stock worth $7,896,977. Insiders own 20.30% of the company’s stock.

Large investors have recently made changes to their positions in the business. Arlington Partners LLC grew its position in shares of Zscaler by 122.4% during the 1st quarter. Arlington Partners LLC now owns 109 shares of the company’s stock worth $26,000 after purchasing an additional 60 shares in the last quarter. San Luis Wealth Advisors LLC acquired a new stake in shares of Zscaler during the 1st quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Zscaler during the 1st quarter worth approximately $30,000. Mascoma Wealth Management LLC acquired a new stake in shares of Zscaler during the 4th quarter worth approximately $31,000. Finally, AdvisorNet Financial Inc boosted its position in shares of Zscaler by 362.1% during the 1st quarter. AdvisorNet Financial Inc now owns 134 shares of the company’s stock worth $32,000 after acquiring an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 43.41% of the company’s stock.

Zscaler Company Profile (Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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