Zscaler, Inc. (NASDAQ:ZS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Zscaler, Inc. (NASDAQ:ZS) have been given a consensus recommendation of “Moderate Buy” by the thirty-four ratings firms that are presently covering the stock, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and twenty-three have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $225.63.

Several equities research analysts recently issued reports on ZS shares. Scotiabank lifted their price target on shares of Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a report on Tuesday, January 21st. Oppenheimer lifted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Morgan Stanley decreased their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 price target on shares of Zscaler in a report on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a report on Tuesday, December 3rd.

Insiders Place Their Bets

In other Zscaler news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fred Alger Management LLC lifted its position in shares of Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its position in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning lifted its position in shares of Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares in the last quarter. Finally, Zweig DiMenna Associates LLC lifted its position in shares of Zscaler by 29.8% during the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after purchasing an additional 17,900 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Down 1.0 %

Shares of NASDAQ:ZS opened at $212.70 on Wednesday. The firm has a 50 day moving average of $194.79 and a 200-day moving average of $189.42. The stock has a market capitalization of $32.64 billion, a PE ratio of -850.80 and a beta of 0.89. Zscaler has a 12 month low of $153.45 and a 12 month high of $255.00.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million during 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% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) EPS. On average, research analysts predict that Zscaler will post -0.1 EPS for the current fiscal year.

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.