Zscaler (NASDAQ:ZS) Trading 6.2% Higher – Should You Buy?

Zscaler, Inc. (NASDAQ:ZS)’s share price was up 6.2% on Tuesday . The stock traded as high as $199.85 and last traded at $203.06. Approximately 312,857 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,361,460 shares. The stock had previously closed at $191.24.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. Citigroup boosted their price objective on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, BTIG Research increased 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. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $225.47.

Zscaler Trading Up 0.6 %

The stock has a market cap of $31.12 billion, a P/E ratio of -811.32 and a beta of 0.87. The business’s fifty day simple moving average is $194.83 and its 200 day simple moving average is $187.81.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period last year, the company earned ($0.18) EPS. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, analysts predict that Zscaler, Inc. will post -0.16 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Syam Nair sold 3,682 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 $737,578.24. Following the sale, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last three months. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after acquiring an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC grew its stake in 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 purchasing an additional 283,540 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after buying an additional 37,801 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after buying an additional 16,634 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.