Zscaler (NASDAQ:ZS) Shares Gap Up to $172.96

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $172.96, but opened at $178.36. Zscaler shares last traded at $175.73, with a volume of 260,207 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ZS shares. The Goldman Sachs Group raised their target price on Zscaler from $189.00 to $215.00 and gave the stock a "neutral" rating in a research note on Monday, March 4th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $230.00 target price on shares of Zscaler in a research note on Wednesday. JMP Securities reaffirmed a "market outperform" rating and set a $270.00 target price on shares of Zscaler in a research note on Friday, March 1st. KeyCorp raised Zscaler from a "sector weight" rating to an "overweight" rating and set a $220.00 target price for the company in a research note on Thursday. Finally, Robert W. Baird raised their target price on Zscaler from $255.00 to $265.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $230.24.

Zscaler Stock Performance

The company has a 50 day simple moving average of $207.79 and a 200-day simple moving average of $202.60. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $25.92 billion, a P/E ratio of -182.07 and a beta of 0.80.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The business had revenue of $525.00 million during the quarter, compared to analysts' expectations of $507.56 million. On average, equities analysts forecast that Zscaler, Inc. will post -0.81 EPS for the current year.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 2,893 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company's stock, valued at approximately $26,518,336.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, insider Syam Nair sold 2,893 shares of the business's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares of the company's stock, valued at approximately $26,518,336.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Remo Canessa sold 7,707 shares of the business's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares of the company's stock, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. In the last three months, insiders sold 26,715 shares of company stock worth $5,865,882. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ZS. Jones Financial Companies Lllp bought a new position in shares of Zscaler in the 4th quarter worth approximately $29,000. GAMMA Investing LLC bought a new position in shares of Zscaler in the 4th quarter worth approximately $37,000. Parkside Financial Bank & Trust raised its position in shares of Zscaler by 582.6% in the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company's stock worth $35,000 after acquiring an additional 134 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Zscaler by 66.7% in the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Zscaler in the 3rd quarter worth approximately $32,000. Institutional investors own 46.45% of the company's stock.

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.