Zscaler's (ZS) "Overweight" Rating Reaffirmed at Stephens

Stephens restated their overweight rating on shares of Zscaler (NASDAQ:ZS - Free Report) in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $255.00 target price on the stock.

A number of other research analysts have also issued reports on ZS. Stifel Nicolaus raised their price objective on shares of Zscaler from $235.00 to $270.00 and gave the company a "buy" rating in a report on Friday, May 16th. BNP Paribas upgraded shares of Zscaler from a "neutral" rating to an "outperform" rating and set a $260.00 price target for the company in a report on Monday, April 28th. Rosenblatt Securities restated a "buy" rating and issued a $235.00 price target on shares of Zscaler in a research report on Tuesday, April 15th. Jefferies Financial Group decreased their price objective on shares of Zscaler from $245.00 to $240.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, UBS Group increased their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $240.09.

Zscaler Stock Down 1.0%

Shares of ZS stock traded down $2.54 on Tuesday, reaching $251.11. The company had a trading volume of 4,191,862 shares, compared to its average volume of 2,058,437. The stock has a market capitalization of $38.85 billion, a PE ratio of -1,004.44 and a beta of 1.14. Zscaler has a one year low of $153.45 and a one year high of $269.21. The business's 50-day moving average is $218.63 and its 200 day moving average is $205.55.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler's revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. On average, sell-side analysts forecast that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Activity 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 shares were sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the sale, the insider now owns 100,230 shares in the company, valued at approximately $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 accessible through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of Zscaler stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 over 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 modified their holdings of ZS. Anderson Financial Strategies LLC purchased a new position in Zscaler during the first quarter valued at approximately $238,000. Geneos Wealth Management Inc. lifted its position in Zscaler by 26.7% during the first quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company's stock valued at $1,224,000 after purchasing an additional 1,299 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Zscaler by 10.8% during the first quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock valued at $231,000 after purchasing an additional 114 shares during the last quarter. Jupiter Wealth Management LLC bought a new stake in Zscaler during the first quarter valued at approximately $298,000. Finally, Focus Partners Wealth lifted its position in Zscaler by 2.5% during the first quarter. Focus Partners Wealth now owns 62,083 shares of the company's stock valued at $12,319,000 after purchasing an additional 1,517 shares during the last quarter. Hedge funds and other 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.