Zscaler's (ZS) Market Outperform Rating Reiterated at JMP Securities

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "market outperform" rating reissued by JMP Securities in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $270.00 price target on the stock. JMP Securities' price target indicates a potential upside of 52.70% from the stock's current price.

Other equities analysts also recently issued reports about the stock. 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 note on Friday, March 1st. The Goldman Sachs Group upped their price target 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. BMO Capital Markets lowered their price target on shares of Zscaler from $268.00 to $255.00 and set an "outperform" rating for the company in a research report on Friday, March 1st. Wedbush upped their price target 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. Finally, Macquarie reissued an "outperform" rating and set a $245.00 target price on shares of Zscaler in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $230.24.

Zscaler Price Performance

Shares of NASDAQ ZS traded up $1.82 during mid-day trading on Tuesday, hitting $176.82. 1,228,227 shares of the company's stock traded hands, compared to its average volume of 2,145,494. The company's 50-day moving average is $185.53 and its two-hundred day moving average is $204.39. 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 company has a market capitalization of $26.51 billion, a P/E ratio of -185.00 and a beta of 0.85. Zscaler has a 1 year low of $114.50 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. The company had revenue of $525.00 million for the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. On average, equities analysts anticipate that Zscaler will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,115 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 transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 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 $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Syam Nair sold 2,893 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 transaction of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,715 shares of company stock worth $4,212,202. 19.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Zscaler

Several large investors have recently made changes to their positions in ZS. Advisor Partners II LLC acquired a new position in shares of Zscaler in the 3rd quarter worth approximately $285,000. Park Avenue Securities LLC purchased a new stake in Zscaler during the 3rd quarter worth approximately $268,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Zscaler by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 223,884 shares of the company's stock worth $34,834,000 after buying an additional 1,188 shares during the period. Congress Wealth Management LLC DE purchased a new stake in Zscaler during the 3rd quarter worth approximately $978,000. Finally, CIBC Asset Management Inc increased its stake in Zscaler by 17.9% during the 3rd quarter. CIBC Asset Management Inc now owns 22,791 shares of the company's stock worth $3,546,000 after buying an additional 3,454 shares during the period. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.