Zscaler (NASDAQ:ZS) Stock Rating Reaffirmed by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a report issued on Wednesday, Benzinga reports. They currently have a $270.00 price objective on the stock.

ZS has been the topic of several other reports. UBS Group reduced their price objective on Zscaler from $270.00 to $250.00 and set a buy rating on the stock in a research note on Wednesday. Mizuho lowered shares of Zscaler from an outperform rating to a neutral rating and set a $220.00 price target on the stock. in a report on Tuesday, July 16th. Wells Fargo & Company dropped their price objective on shares of Zscaler from $182.00 to $180.00 and set an equal weight rating for the company in a research note on Wednesday. Scotiabank decreased their target price on shares of Zscaler from $210.00 to $195.00 and set a sector outperform rating on the stock in a research note on Wednesday. Finally, Needham & Company LLC dropped their price target on Zscaler from $290.00 to $235.00 and set a strong-buy rating for the company in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $218.39.

Zscaler Price Performance

ZS stock opened at $156.78 on Wednesday. The company’s 50-day moving average price is $187.65 and its two-hundred day moving average price is $187.23. The firm has a market cap of $23.70 billion, a P/E ratio of -307.41 and a beta of 0.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler has a 12 month low of $146.59 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the firm posted ($0.17) earnings per share. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, analysts anticipate that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 7,981 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Quest Partners LLC acquired a new position in Zscaler during the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp bought a new position in shares of Zscaler in the fourth quarter valued at approximately $29,000. Quadrant Capital Group LLC boosted its position in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the last quarter. Asset Dedication LLC grew its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC purchased a new stake in Zscaler in the 2nd quarter valued at $50,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.