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

Zscaler, Inc. (NASDAQ:ZS) 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.

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:ZS) 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

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.