Zscaler (NASDAQ:ZS) Trading 1.8% Higher - What's Next?

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) shares traded up 1.8% on Friday . The company traded as high as $316.45 and last traded at $314.75. 1,367,890 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 2,066,640 shares. The stock had previously closed at $309.33.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ZS shares. Evercore ISI lifted their target price on shares of Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a report on Friday, May 30th. BTIG Research upped their price target on Zscaler from $298.00 to $329.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday, May 28th. Canaccord Genuity Group set a $305.00 target price on Zscaler and gave the stock a "buy" rating in a report on Monday, June 2nd. Finally, Mizuho increased their target price on Zscaler from $275.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 4th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Zscaler currently has a consensus rating of "Moderate Buy" and an average target price of $296.82.

Zscaler Stock Up 1.8%

The business's fifty day moving average is $274.17 and its 200-day moving average is $223.57. The company has a market cap of $49.01 billion, a PE ratio of -1,210.56 and a beta of 1.11.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping 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 business had revenue of $678.03 million for the quarter, compared to the consensus estimate of $667.13 million. During the same period last year, the firm earned $0.88 earnings per share. The company's quarterly revenue was up 22.6% on a year-over-year basis. Analysts forecast that Zscaler, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity at Zscaler

In other news, insider Adam Geller sold 3,662 shares of Zscaler stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $306.72, for a total transaction of $1,123,208.64. Following the transaction, the insider directly owned 46,813 shares of the company's stock, valued at $14,358,483.36. The trade was a 7.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Syam Nair sold 28,947 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider directly owned 110,566 shares of the company's stock, valued at $27,641,500. This represents a 20.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,793 shares of company stock valued at $58,752,794 in the last ninety days. Corporate insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

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