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

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the thirty-seven brokerages that are currently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, twenty-eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $296.82.

ZS has been the topic of a number of analyst reports. Barclays increased their price objective on Zscaler from $275.00 to $290.00 and gave the company an "overweight" rating in a research note on Friday, May 30th. KeyCorp boosted their price target on Zscaler from $290.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday, May 30th. Cantor Fitzgerald upped their target price on Zscaler from $290.00 to $340.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Rosenblatt Securities increased their price objective on Zscaler from $235.00 to $315.00 and gave the company a "buy" rating in a report on Friday, May 30th. Finally, BMO Capital Markets raised their target price on Zscaler from $233.00 to $295.00 and gave the company an "outperform" rating in a report on Friday, May 30th.

Zscaler Stock Performance

Zscaler stock opened at $289.74 on Friday. The company's fifty day moving average price is $282.23 and its 200 day moving average price is $227.71. Zscaler has a 1 year low of $153.45 and a 1 year high of $318.46. The stock has a market capitalization of $45.11 billion, a P/E ratio of -1,114.38 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $678.03 million for the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. Zscaler's revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.88 EPS. Sell-side analysts predict that Zscaler will post -0.1 EPS for the current year.

Insider Activity

In other Zscaler news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the sale, the insider directly owned 95,612 shares of the company's stock, valued at $28,683,600. This represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Ajay Mangal sold 120,000 shares of Zscaler stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $300.89, for a total transaction of $36,106,800.00. Following the transaction, the insider directly owned 2,550,210 shares of the company's stock, valued at $767,332,686.90. This represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,793 shares of company stock worth $58,752,794 over the last ninety days. Insiders own 18.10% of the company's stock.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company's stock valued at $26,000 after acquiring an additional 94 shares during the last quarter. SVB Wealth LLC purchased a new position in Zscaler during the 1st quarter worth $26,000. Summit Securities Group LLC bought a new stake in shares of Zscaler during the 4th quarter worth $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler in the 4th quarter worth about $28,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Zscaler in the 1st quarter worth about $29,000. 46.45% of the stock is owned by institutional investors.

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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