Zscaler (NASDAQ:ZS) Given "Neutral" Rating at Piper Sandler

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "neutral" rating reissued by equities researchers at Piper Sandler in a research report issued on Friday, Marketbeat Ratings reports. They presently have a $260.00 price objective on the stock, up from their prior price objective of $235.00. Piper Sandler's price target would indicate a potential downside of 5.12% from the company's current price.

Several other research firms have also issued reports on ZS. Sanford C. Bernstein reissued an "outperform" rating and set a $244.00 price target on shares of Zscaler in a report on Thursday, March 6th. BMO Capital Markets upped their price objective on Zscaler from $222.00 to $233.00 and gave the stock an "outperform" rating in a research note on Thursday, March 6th. Royal Bank of Canada increased their price target on Zscaler from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Thursday, March 6th. Mizuho increased their price target on Zscaler from $220.00 to $250.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, Robert W. Baird upped their price objective on Zscaler from $240.00 to $250.00 and gave the company an "outperform" rating in a research report on Thursday, March 6th. Ten analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $275.12.

Zscaler Stock Up 9.1%

Shares of Zscaler stock traded up $22.92 on Friday, reaching $274.03. The company's stock had a trading volume of 9,940,403 shares, compared to its average volume of 2,045,319. The company has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. The firm's fifty day simple moving average is $220.62 and its two-hundred day simple moving average is $206.33. Zscaler has a 52 week low of $153.45 and a 52 week high of $276.49.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. Zscaler's revenue was up 22.6% compared to the same quarter last year. As a group, research analysts predict that Zscaler will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In related news, major shareholder Ajay Mangal sold 190,480 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now owns 356,414 shares of the company's stock, valued at $70,979,848.10. This trade represents a 0.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the stock. SYM FINANCIAL Corp purchased a new position in shares of Zscaler in the 4th quarter valued at about $303,000. Mediolanum International Funds Ltd grew its position in shares of Zscaler by 17.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 53,646 shares of the company's stock valued at $9,800,000 after purchasing an additional 7,892 shares in the last quarter. Choreo LLC grew its position in shares of Zscaler by 2.6% in the fourth quarter. Choreo LLC now owns 2,833 shares of the company's stock valued at $517,000 after purchasing an additional 73 shares in the last quarter. Arlington Capital Management Inc. acquired a new position in Zscaler in the fourth quarter valued at approximately $2,107,000. Finally, DnB Asset Management AS lifted its holdings in Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company's stock valued at $120,403,000 after acquiring an additional 267,162 shares during the last quarter. Hedge funds and other 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.