Zscaler (NASDAQ:ZS) Shares Up 1.5% - Here's Why

Zscaler, Inc. (NASDAQ:ZS - Get Free Report)'s stock price rose 1.5% on Monday . The stock traded as high as $295.00 and last traded at $294.03. Approximately 527,765 shares traded hands during trading, a decline of 77% from the average daily volume of 2,294,220 shares. The stock had previously closed at $289.74.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Oppenheimer boosted their price objective on shares of Zscaler from $290.00 to $345.00 and gave the company an "outperform" rating in a research note on Friday, June 6th. Susquehanna boosted their price objective on shares of Zscaler from $245.00 to $320.00 and gave the company a "positive" rating in a research note on Friday, May 30th. Bank of America boosted their price objective on shares of Zscaler from $285.00 to $340.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Wedbush boosted their price objective on shares of Zscaler from $240.00 to $300.00 and gave the company an "outperform" rating in a research note on Friday, May 30th. Finally, Canaccord Genuity Group set a $305.00 price objective on shares of Zscaler and gave the company a "buy" rating in a research note on Monday, June 2nd. Eight research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Zscaler currently has a consensus rating of "Moderate Buy" and a consensus target price of $296.82.

Zscaler Price Performance

The company has a market capitalization of $45.33 billion, a price-to-earnings ratio of -1,119.77 and a beta of 1.11. The stock's fifty day simple moving average is $282.23 and its two-hundred day simple moving average is $228.27.

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. The business had revenue of $678.03 million during 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%. The company's quarterly revenue was up 22.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, sell-side analysts predict that Zscaler, Inc. will post -0.1 EPS for the current year.

Insider Transactions at Zscaler

In other Zscaler news, insider Syam Nair sold 28,947 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $250.00, for a total value 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 approximately $27,641,500. This represents a 20.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew William Fraser Brown sold 20,333 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $296.72, for a total transaction of $6,033,207.76. Following the sale, the director directly owned 27,216 shares of the company's stock, valued at $8,075,531.52. This represents a 42.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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

A number of hedge funds have recently bought and sold shares of ZS. Gries Financial LLC purchased a new stake in shares of Zscaler in the second quarter worth approximately $235,000. McGlone Suttner Wealth Management Inc. acquired a new position in Zscaler in the second quarter worth approximately $316,000. GAMMA Investing LLC increased its holdings in Zscaler by 19.5% in the second quarter. GAMMA Investing LLC now owns 766 shares of the company's stock worth $240,000 after buying an additional 125 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Zscaler in the second quarter worth approximately $390,000. Finally, Kaufman Rossin Wealth LLC acquired a new position in Zscaler in the second quarter worth approximately $269,000. 46.45% of the stock is owned by hedge funds and other 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.