Zscaler, Inc. (NASDAQ:ZS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Zscaler, Inc. (NASDAQ:ZS) has been assigned a consensus recommendation of “Moderate Buy” from the thirty-two ratings firms that are covering the company, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation, twenty-one have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $220.48.

A number of equities research analysts recently issued reports on the company. Robert W. Baird reduced their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Wells Fargo & Company reduced their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 4th. KeyCorp raised their price target on Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. cut their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, Susquehanna reissued a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th.

Zscaler Price Performance

ZS stock opened at $204.96 on Friday. The business’s fifty day moving average price is $188.79 and its two-hundred day moving average price is $184.36. The stock has a market capitalization of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the company earned ($0.17) EPS. The business’s revenue was up 30.3% on a year-over-year basis. Research analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Activity

In related news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its stake in Zscaler by 7.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after buying an additional 14,701 shares during the period. Creative Planning increased its stake in shares of Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after acquiring an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Zscaler in the 2nd quarter valued at $25,287,000. Strategic Advisors LLC lifted its position in shares of Zscaler by 470.0% during the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after acquiring an additional 6,712 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after acquiring an additional 14,274 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.