Zscaler, Inc. (NASDAQ:ZS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned a consensus rating of “Moderate Buy” from the thirty-four brokerages that are currently covering the stock, Marketbeat.com reports. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $224.84.

Several research firms have commented on ZS. Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Piper Sandler upped their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on shares of Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Wells Fargo & Company upped their price objective on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $240.00 target price (down previously from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd.

Zscaler Price Performance

NASDAQ:ZS opened at $184.56 on Tuesday. The firm has a market cap of $28.32 billion, a PE ratio of -738.24 and a beta of 0.82. The firm has a 50 day simple moving average of $196.91 and a 200-day simple moving average of $187.99. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.18) EPS. As a group, sell-side analysts expect that Zscaler will post -0.24 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,630 shares of company stock valued at $3,155,697 over the last three months. 18.10% of the stock is owned by insiders.

Institutional Trading of Zscaler

A number of institutional investors and hedge funds have recently made changes to their positions in ZS. Quest Partners LLC acquired a new position in Zscaler during the 2nd quarter valued at about $28,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler during the third quarter valued at approximately $31,000. True Wealth Design LLC boosted its position in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the period. Asset Dedication LLC increased its position in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Zscaler during the 3rd quarter valued at $38,000. 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.