Zscaler (NASDAQ:ZS) Upgraded at Wall Street Zen

Zscaler (NASDAQ:ZS - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Sunday.

A number of other analysts have also recently commented on ZS. Evercore ISI upped their price objective on Zscaler from $245.00 to $290.00 and gave the company an "outperform" rating in a research report on Friday, May 30th. Mizuho boosted their price target on Zscaler from $275.00 to $290.00 and gave the company a "neutral" rating in a research note on Wednesday. Needham & Company LLC upped their price target on shares of Zscaler from $240.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Barclays increased their price objective on shares of Zscaler from $275.00 to $290.00 and gave the stock an "overweight" rating in a research note on Friday, May 30th. Finally, Royal Bank of Canada increased their price objective on shares of Zscaler from $288.00 to $304.00 and gave the stock an "outperform" rating in a research note on Friday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $283.85.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $303.03 on Friday. The firm has a market cap of $47.18 billion, a price-to-earnings ratio of -1,212.12 and a beta of 1.09. The business has a 50-day simple moving average of $229.85 and a two-hundred day simple moving average of $209.60. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $306.78.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data 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 1.58% and a negative return on equity of 0.75%. The firm had revenue of $678.03 million during the quarter, compared to analysts' expectations of $667.13 million. During the same period in the previous year, the company earned $0.88 earnings per share. The firm's quarterly revenue was up 22.6% on a year-over-year basis. As a group, research analysts predict that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In other Zscaler news, Director Andrew William Fraser Brown sold 10,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $206.00, for a total transaction of $2,060,000.00. Following the transaction, the director now owns 27,216 shares in the company, valued at $5,606,496. The trade was a 26.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 266,722 shares of company stock worth $57,583,648 over the last quarter. Insiders own 18.10% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Zscaler by 3.1% during the first quarter. Vanguard Group Inc. now owns 9,890,506 shares of the company's stock valued at $1,962,474,000 after acquiring an additional 294,034 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock worth $604,831,000 after purchasing an additional 578,883 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Zscaler in the 1st quarter worth about $516,622,000. Geode Capital Management LLC increased its stake in Zscaler by 2.0% in the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company's stock worth $298,710,000 after buying an additional 32,545 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in Zscaler by 25.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company's stock valued at $291,935,000 after buying an additional 332,307 shares in the last quarter. 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.

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