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

Zscaler, Inc. (NASDAQ:ZSGet Free Report) has received an average rating of “Moderate Buy” from the thirty-four ratings firms that are covering the company, MarketBeat reports. Eleven analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $224.84.

ZS has been the topic of a number of research reports. Morgan Stanley dropped their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday. Piper Sandler raised their price objective on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday. BTIG Research raised their price objective on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Jefferies Financial Group raised their price objective on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday.

View Our Latest Analysis on Zscaler

Zscaler Stock Down 0.4 %

Shares of NASDAQ ZS opened at $205.61 on Friday. The firm’s 50-day moving average price is $191.98 and its 200-day moving average price is $185.29. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZSGet Free Report) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.18) EPS. As a group, equities research analysts forecast that Zscaler will post -0.95 EPS for the current year.

Insiders Place Their Bets

In other Zscaler news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at $18,254,563.02. The trade was a 4.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 4.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 over the last three months. 18.10% of the stock is owned by company insiders.

Institutional Trading of Zscaler

A number of large investors have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its stake in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC raised its holdings in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after acquiring an additional 61,037 shares in the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

About Zscaler

(Get Free Report

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.

See Also

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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