Zscaler (NASDAQ:ZS) Sets New 52-Week High - What's Next?

Zscaler, Inc. (NASDAQ:ZS - Get Free Report)'s share price reached a new 52-week high on Tuesday . The stock traded as high as $318.46 and last traded at $315.35, with a volume of 199124 shares changing hands. The stock had previously closed at $315.45.

Wall Street Analyst Weigh In

ZS has been the subject of several recent research reports. JMP Securities lifted their target price on shares of Zscaler from $310.00 to $355.00 and gave the company a "market outperform" rating in a report on Tuesday, July 1st. Canaccord Genuity Group set a $305.00 price target on Zscaler and gave the stock a "buy" rating in a research note on Monday, June 2nd. Jefferies Financial Group decreased their price objective on Zscaler from $245.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Evercore ISI increased their price target on Zscaler from $245.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Finally, Roth Capital reaffirmed a "neutral" rating on shares of Zscaler in a research report on Wednesday, May 28th. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Zscaler has an average rating of "Moderate Buy" and an average price target of $296.82.

Zscaler Price Performance

The business's 50-day moving average price is $277.85 and its 200 day moving average price is $225.62. The firm has a market capitalization of $49.25 billion, a price-to-earnings ratio of -1,217.63 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The firm 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 firm earned $0.88 earnings per share. The firm's revenue for the quarter was up 22.6% compared to the same quarter last year. As a group, sell-side analysts expect that Zscaler, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Adam Geller sold 3,662 shares of the company's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total value of $1,123,208.64. Following the transaction, the insider owned 46,813 shares in the company, valued at $14,358,483.36. This represents a 7.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 4,618 shares of the company's stock in a transaction dated 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 transaction, the insider owned 95,612 shares in the company, valued at $28,683,600. This represents a 4.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,793 shares of company stock worth $58,752,794 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently added to or reduced their stakes in the stock. Woodstock Corp boosted its position in Zscaler by 3.3% during the second quarter. Woodstock Corp now owns 49,450 shares of the company's stock worth $15,524,000 after purchasing an additional 1,598 shares during the period. Parisi Gray Wealth Management acquired a new position in shares of Zscaler in the second quarter valued at $801,000. Avity Investment Management Inc. acquired a new position in shares of Zscaler in the second quarter valued at $228,000. OMNI 360 Wealth Inc. acquired a new position in shares of Zscaler in the second quarter valued at $306,000. Finally, Fiduciary Financial Group LLC acquired a new position in shares of Zscaler in the second quarter valued at $213,000. 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.