Cantor Fitzgerald Reaffirms "Neutral" Rating for Zscaler (NASDAQ:ZS)

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "neutral" rating reissued by research analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports. They presently have a $230.00 price target on the stock. Cantor Fitzgerald's price target suggests a potential upside of 32.98% from the company's current price.

Several other brokerages have also recently issued reports on ZS. JPMorgan Chase & Co. lifted their price objective on shares of Zscaler from $212.00 to $240.00 and gave the stock a "neutral" rating in a research note on Monday, February 26th. Wedbush lifted their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock an "outperform" rating in a research report on Friday, March 1st. The Goldman Sachs Group lifted their target price on shares of Zscaler from $189.00 to $215.00 and gave the stock a "neutral" rating in a research report on Monday, March 4th. Sanford C. Bernstein dropped their target price on shares of Zscaler from $311.00 to $280.00 and set an "outperform" rating on the stock in a research report on Friday, March 1st. Finally, Barclays dropped their target price on shares of Zscaler from $259.00 to $240.00 and set an "overweight" rating on the stock in a research report on Friday, March 1st. Six research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $230.55.

Zscaler Stock Performance

NASDAQ:ZS traded down $1.36 during mid-day trading on Wednesday, hitting $172.96. The stock had a trading volume of 1,297,538 shares, compared to its average volume of 2,278,160. The stock has a market capitalization of $25.92 billion, a price-to-earnings ratio of -182.06 and a beta of 0.80. The company has a 50 day simple moving average of $209.32 and a 200-day simple moving average of $202.81. Zscaler has a 52 week low of $84.93 and a 52 week high of $259.61. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19.

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

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company'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 $408,512.25. Following the sale, the chief executive officer now owns 367,152 shares of the company's stock, valued at approximately $70,915,408.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Karen Blasing sold 7,000 shares of the company's stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $236.24, for a total value of $1,653,680.00. Following the sale, the director now owns 39,539 shares of the company's stock, valued at approximately $9,340,693.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold 26,715 shares of company stock valued at $5,865,882 in the last 90 days. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ZS. 1832 Asset Management L.P. acquired a new position in Zscaler during the 4th quarter worth about $217,683,000. Renaissance Technologies LLC acquired a new position in Zscaler during the 1st quarter valued at about $168,365,000. Norges Bank acquired a new position in Zscaler during the 4th quarter valued at about $59,634,000. Polar Capital Holdings Plc acquired a new position in Zscaler during the 3rd quarter valued at about $61,681,000. Finally, Trivest Advisors Ltd acquired a new position in Zscaler during the 4th quarter valued at about $72,051,000. Institutional investors and hedge funds 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.