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

by · The Markets Daily

Shares of Zscaler, Inc. (NASDAQ:ZS – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the thirty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $218.39.

Several research analysts have recently commented on ZS shares. Sanford C. Bernstein decreased their price objective on Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. BTIG Research decreased their price objective on Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wedbush decreased their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Scotiabank decreased their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. Finally, UBS Group decreased their price objective on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th.

Check Out Our Latest Stock Analysis on Zscaler

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The disclosure for this sale can be found here. Insiders sold a total of 16,120 shares of company stock worth $2,761,034 in the last three months. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently added to or reduced their stakes in ZS. 1832 Asset Management L.P. bought a new stake in shares of Zscaler during the 4th quarter valued at $217,683,000. Norges Bank bought a new stake in shares of Zscaler during the 4th quarter valued at $117,599,000. Quadrature Capital Ltd bought a new stake in shares of Zscaler during the 1st quarter valued at $47,217,000. Vanguard Group Inc. grew its position in shares of Zscaler by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after acquiring an additional 206,908 shares during the period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Zscaler during the 1st quarter valued at $27,954,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Up 2.4 %

NASDAQ ZS opened at $172.58 on Friday. The stock’s 50-day simple moving average is $182.33 and its two-hundred day simple moving average is $183.49. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of -337.43 and a beta of 0.82.

Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the business posted ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities analysts expect that Zscaler will post -0.92 earnings per share 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.

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