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

by · The Cerbat Gem

Zscaler, Inc. (NASDAQ:ZS – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the thirty-four research firms that are presently covering the firm, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $224.84.

Several equities analysts recently commented on the company. Barclays boosted their price target on Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Robert W. Baird decreased their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Wedbush decreased their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Scotiabank lifted their target price on Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, December 3rd.

Check Out Our Latest Research Report on ZS

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was 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 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,683 shares of company stock worth $2,313,619. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in Zscaler during the 2nd quarter valued at $28,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler in the third quarter valued at $31,000. True Wealth Design LLC boosted its stake in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares in the last quarter. Asset Dedication LLC grew its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Zscaler in the third quarter worth about $38,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Down 0.8 %

Shares of ZS stock opened at $183.13 on Tuesday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm’s 50 day moving average price is $196.91 and its two-hundred day moving average price is $187.98. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of -732.52 and a beta of 0.82.

Zscaler (NASDAQ:ZS – Get Free Report) last announced 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 firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same period in the prior year, the company earned ($0.18) EPS. On average, equities analysts forecast that Zscaler will post -0.24 EPS for the current fiscal year.

About Zscaler

(Get Free Report

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.

Further Reading