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

Zscaler, Inc. (NASDAQ:ZS) has been given a consensus recommendation of “Moderate Buy” by the thirty-four brokerages that are currently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $216.73.

Several research analysts recently commented on the stock. UBS Group cut their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Citigroup cut their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 4th. BMO Capital Markets lowered their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Wedbush cut their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Finally, Needham & Company LLC dropped their target price on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently made changes to their positions in the business. Norden Group LLC acquired a new position in shares of Zscaler during the 1st quarter worth about $846,000. Janney Montgomery Scott LLC increased its stake in Zscaler by 399.8% in the first quarter. Janney Montgomery Scott LLC now owns 28,311 shares of the company’s stock valued at $5,454,000 after purchasing an additional 22,646 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its holdings in Zscaler by 7.9% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,084 shares of the company’s stock worth $594,000 after purchasing an additional 226 shares during the period. BNP Paribas bought a new position in shares of Zscaler during the first quarter worth $94,000. Finally, Nordea Investment Management AB grew its holdings in shares of Zscaler by 159.4% in the 1st quarter. Nordea Investment Management AB now owns 77,318 shares of the company’s stock valued at $14,941,000 after buying an additional 47,515 shares during the period. Institutional investors own 46.45% of the company’s stock.

Zscaler Stock Performance

ZS opened at $195.73 on Monday. The company has a market cap of $29.85 billion, a PE ratio of -489.31 and a beta of 0.82. The stock has a 50-day moving average of $179.05 and a 200-day moving average of $181.52. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. On average, research analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Zscaler Company Profile

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.