Guggenheim restated their neutral rating on shares of Zscaler (NASDAQ:ZS - Free Report) in a research report report published on Friday,Benzinga reports.
Other analysts also recently issued research reports about the stock. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a report on Wednesday. UBS Group increased their target price on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, March 6th. Cantor Fitzgerald increased their target price on shares of Zscaler from $250.00 to $275.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 target price for the company in a report on Monday, April 28th. Finally, Jefferies Financial Group lowered their target price on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a report on Monday, March 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $275.12.
Check Out Our Latest Analysis on ZS
Zscaler Trading Up 9.1%
NASDAQ ZS traded up $22.92 on Friday, hitting $274.03. 9,940,403 shares of the company were exchanged, compared to its average volume of 2,045,319. The company has a market cap of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. Zscaler has a 12 month low of $153.45 and a 12 month high of $276.49. The stock has a fifty day moving average of $220.62 and a 200-day moving average of $206.33.
Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. During the same period last year, the firm earned $0.88 earnings per share. The business's quarterly revenue was up 22.6% compared to the same quarter last year. On average, analysts expect that Zscaler will post -0.1 earnings per share for the current year.
Insider Activity
In other news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now directly owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Syam Nair sold 28,947 shares of Zscaler stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the sale, the insider now owns 110,566 shares of the company's stock, valued at approximately $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 241,771 shares of company stock worth $50,165,040. 18.10% of the stock is owned by company insiders.
Institutional Investors Weigh In On Zscaler
Several hedge funds have recently bought and sold shares of ZS. T. Rowe Price Investment Management Inc. purchased a new position in shares of Zscaler during the first quarter worth approximately $516,622,000. Nuveen LLC purchased a new position in shares of Zscaler in the first quarter worth $153,340,000. Goldman Sachs Group Inc. increased its position in Zscaler by 23.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock valued at $604,831,000 after purchasing an additional 578,883 shares during the period. AQR Capital Management LLC increased its position in Zscaler by 120.1% during the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company's stock valued at $173,921,000 after purchasing an additional 525,956 shares during the period. Finally, Natixis purchased a new position in Zscaler during the 4th quarter valued at $87,775,000. 46.45% of the stock is currently owned by institutional investors.
About Zscaler
(
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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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