Zscaler, Inc. (NASDAQ:ZS) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Zscaler, Inc. (NASDAQ:ZS) has been assigned an average rating of “Moderate Buy” from the thirty-three ratings firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, twenty-seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $230.24.

ZS has been the subject of several analyst reports. JMP Securities restated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Friday, March 1st. Sanford C. Bernstein reduced their price objective on shares of Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a research report on Friday, March 1st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday, April 17th. Macquarie reaffirmed an “outperform” rating and set a $245.00 price objective on shares of Zscaler in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group raised their price objective on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the sale, the chief financial officer now directly owns 255,943 shares in the company, valued at approximately $49,435,390.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Syam Nair sold 2,893 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the completion of the sale, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. Insiders have sold 26,715 shares of company stock worth $5,865,882 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. grew its holdings in Zscaler by 3.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 14,871 shares of the company’s stock valued at $2,865,000 after buying an additional 520 shares in the last quarter. PFG Investments LLC purchased a new position in Zscaler during the 1st quarter valued at about $237,000. Raymond James & Associates grew its holdings in Zscaler by 9.3% during the 1st quarter. Raymond James & Associates now owns 31,877 shares of the company’s stock valued at $6,140,000 after buying an additional 2,705 shares in the last quarter. Arthur M. Cohen & Associates LLC grew its holdings in Zscaler by 10.5% during the 1st quarter. Arthur M. Cohen & Associates LLC now owns 15,052 shares of the company’s stock valued at $2,899,000 after buying an additional 1,426 shares in the last quarter. Finally, Teamwork Financial Advisors LLC bought a new stake in Zscaler during the first quarter valued at $1,267,000. 46.45% of the stock is currently owned by institutional investors.

Zscaler Stock Up 1.0 %

Shares of NASDAQ ZS opened at $170.97 on Thursday. The company has a 50 day simple moving average of $204.42 and a 200 day simple moving average of $203.48. The firm has a market cap of $25.63 billion, a PE ratio of -179.97 and a beta of 0.81. Zscaler has a 1 year low of $84.93 and a 1 year high of $259.61. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The firm had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. On average, research analysts forecast that Zscaler will post -0.81 EPS for the current year.

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.