Zscaler, Inc. (NASDAQ:ZS) Given Average Recommendation of "Moderate Buy" by Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the thirty-seven research firms that are covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $294.03.

Several equities research analysts recently weighed in on ZS shares. Evercore ISI upped their price target on Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Truist Financial reaffirmed a "buy" rating and issued a $300.00 target price (up from $260.00) on shares of Zscaler in a research report on Friday, May 30th. Stifel Nicolaus lifted their price target on shares of Zscaler from $270.00 to $295.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Zscaler from a "hold" rating to a "buy" rating in a report on Sunday, June 8th. Finally, FBN Securities upgraded shares of Zscaler to a "strong-buy" rating in a report on Friday, May 30th.

Zscaler Stock Up 1.0%

NASDAQ:ZS opened at $305.02 on Tuesday. The firm's fifty day simple moving average is $243.81 and its 200 day simple moving average is $213.51. The stock has a market cap of $47.49 billion, a P/E ratio of -1,220.08 and a beta of 1.09. Zscaler has a twelve month low of $153.45 and a twelve month high of $309.19.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $678.03 million for the quarter, compared to analysts' expectations of $667.13 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. Zscaler's quarterly revenue was up 22.6% on a year-over-year basis. On average, analysts expect that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, 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 transaction, the insider now owns 110,566 shares of the company's stock, valued at $27,641,500. The trade was a 20.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Ajay Mangal sold 120,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the completion of the sale, the insider now directly owns 2,550,210 shares of the company's stock, valued at approximately $767,332,686.90. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,488 shares of company stock valued at $53,719,658. 18.10% of the stock is owned by insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Zscaler by 3.1% during the first quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company's stock valued at $1,962,474,000 after purchasing an additional 294,034 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings 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 buying an additional 578,883 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Zscaler in the 1st quarter worth approximately $516,622,000. Geode Capital Management LLC boosted its position in shares of Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock valued at $298,710,000 after acquiring an additional 32,545 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after acquiring an additional 332,307 shares during the last quarter. 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.

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