Zscaler (NASDAQ:ZS) Rating Reiterated by Susquehanna

Zscaler (NASDAQ:ZS)‘s stock had its “positive” rating reissued by investment analysts at Susquehanna in a report issued on Thursday, Benzinga reports. They currently have a $210.00 price target on the stock. Susquehanna’s price objective suggests a potential upside of 33.95% from the company’s previous close.

Several other analysts have also weighed in on the company. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $265.00 to $195.00 in a report on Wednesday. Cantor Fitzgerald decreased their price objective on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. 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. 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. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.39.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $156.78 on Thursday. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $187.65 and its two-hundred day moving average is $187.65. The company has a market cap of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82. Zscaler has a 12 month low of $146.59 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the previous year, the business posted ($0.17) EPS. 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 -0.38 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total value of $848,380.77. Following the transaction, the chief financial officer now owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently modified their holdings of the business. Sierra Summit Advisors LLC bought a new position in shares of Zscaler during the fourth quarter worth about $5,609,000. State Board of Administration of Florida Retirement System boosted its stake in shares of Zscaler by 6.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after acquiring an additional 6,683 shares during the period. Norges Bank bought a new position in shares of Zscaler during the 4th quarter worth approximately $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Zscaler by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after acquiring an additional 9,689 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Zscaler by 40.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock worth $470,000 after purchasing an additional 696 shares during 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.