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

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned an average recommendation of “Moderate Buy” from the thirty-four analysts that are presently covering the company, Marketbeat reports. Eleven 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 target among brokerages that have updated their coverage on the stock in the last year is $225.63.

ZS has been the subject of a number of recent analyst reports. JMP Securities restated a “market outperform” rating and set a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Scotiabank raised their price objective on Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. raised their price objective on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Deutsche Bank Aktiengesellschaft increased their target price on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Finally, Wells Fargo & Company increased their target price on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th.

Insider Activity

In other news, 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 directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 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 $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at $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. In the last ninety days, insiders have sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Corebridge Financial Inc. lifted its holdings in Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after buying an additional 54 shares in the last quarter. Erste Asset Management GmbH lifted its holdings in Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after buying an additional 56 shares in the last quarter. KRS Capital Management LLC lifted its holdings in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after buying an additional 60 shares in the last quarter. Ironwood Investment Management LLC lifted its holdings in Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after buying an additional 64 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after buying an additional 69 shares in the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

ZS stock opened at $216.87 on Wednesday. Zscaler has a 1 year low of $153.45 and a 1 year high of $251.94. The firm has a market cap of $33.28 billion, a P/E ratio of -867.48 and a beta of 0.89. The stock has a 50-day simple moving average of $195.23 and a 200-day simple moving average of $190.02.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same quarter last year, the firm earned ($0.18) EPS. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. On average, equities research analysts predict that Zscaler will post -0.1 EPS for the current 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.