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

Shares of Zscaler, Inc. (NASDAQ:ZS) have been given a consensus recommendation of “Moderate Buy” by the thirty-four brokerages that are covering the stock, MarketBeat reports. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $225.47.

A number of research firms have recently weighed in on ZS. BNP Paribas began coverage on Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price for the company. Jefferies Financial Group boosted their target price on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price objective on shares of Zscaler in a research note on Friday, January 10th. Finally, JMP Securities restated a “market outperform” rating and set a $240.00 target price (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd.

Zscaler Stock Performance

ZS stock opened at $193.47 on Friday. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The company’s 50-day simple moving average is $195.05 and its 200 day simple moving average is $187.86.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period last year, the firm earned ($0.18) earnings per share. As a group, analysts anticipate that Zscaler will post -0.16 earnings per share for the current year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 over the last three months. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the company. KRS Capital Management LLC increased its holdings in Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after purchasing an additional 60 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after buying an additional 66 shares during the last quarter. American Trust lifted its stake in Zscaler by 6.1% during the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after acquiring an additional 70 shares in the last quarter. GAMMA Investing LLC lifted its stake in Zscaler by 18.5% during the 4th quarter. GAMMA Investing LLC now owns 448 shares of the company’s stock valued at $81,000 after acquiring an additional 70 shares in the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in Zscaler by 50.7% during the 4th quarter. Avior Wealth Management LLC now owns 214 shares of the company’s stock worth $39,000 after acquiring an additional 72 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.