Zscaler (NASDAQ:ZS) Earns "Buy" Rating from Truist Financial

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "buy" rating reissued by equities researchers at Truist Financial in a research report issued on Friday,Benzinga reports. They presently have a $300.00 price target on the stock, up from their previous price target of $260.00. Truist Financial's price objective would suggest a potential upside of 9.48% from the company's previous close.

Several other research analysts have also commented on the company. Robert W. Baird raised their price target on Zscaler from $240.00 to $250.00 and gave the stock an "outperform" rating in a research report on Thursday, March 6th. Barclays restated an "overweight" rating on shares of Zscaler in a research report on Wednesday, March 5th. Royal Bank of Canada raised their price target on Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research report on Friday. BTIG Research set a $252.00 price target on Zscaler and gave the stock a "buy" rating in a research report on Thursday, March 6th. Finally, Bank of America upgraded Zscaler from a "neutral" rating to a "buy" rating and increased their price objective for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Ten analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Zscaler has an average rating of "Moderate Buy" and an average target price of $275.12.

Zscaler Trading Up 9.1%

Zscaler stock traded up $22.92 during mid-day trading on Friday, hitting $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 firm has a market capitalization of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. Zscaler has a 1 year low of $153.45 and a 1 year high of $276.49. The stock's fifty day moving average is $220.62 and its two-hundred day moving average is $206.31.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results 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 business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same period last year, the business posted $0.88 earnings per share. The company's quarterly revenue was up 22.6% on a year-over-year basis. On average, equities analysts expect that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 3,590 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the transaction, the insider now owns 100,230 shares of the company's stock, valued at $25,057,500. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Syam Nair sold 28,947 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total value of $7,236,750.00. Following the transaction, the insider now directly owns 110,566 shares in the company, valued at approximately $27,641,500. This represents a 20.75% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 241,771 shares of company stock worth $50,165,040. Corporate insiders own 18.10% of the company's stock.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently added to or reduced their stakes in the business. Global X Japan Co. Ltd. boosted its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company's stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. ORG Partners LLC boosted its stake in shares of Zscaler by 284.8% during the 1st quarter. ORG Partners LLC now owns 127 shares of the company's stock worth $26,000 after acquiring an additional 94 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Zscaler during the 1st quarter worth approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the 4th quarter worth approximately $27,000. Finally, Colonial Trust Co SC purchased a new stake in shares of Zscaler during the 4th quarter worth approximately $28,000. Hedge funds and other institutional investors own 46.45% of the company's stock.

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.