Zscaler (NASDAQ:ZS) Now Covered by Analysts at BNP Paribas

BNP Paribas initiated coverage on shares of Zscaler (NASDAQ:ZS) in a report issued on Tuesday morning, Marketbeat.com reports. The brokerage issued a neutral rating and a $180.00 target price on the stock.

Several other equities research analysts have also weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an equal weight rating on the stock in a report on Wednesday, September 4th. Susquehanna reaffirmed a positive rating and set a $210.00 price objective on shares of Zscaler in a research note on Thursday, September 5th. Royal Bank of Canada reiterated an outperform rating and issued a $230.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Cantor Fitzgerald decreased their price target on Zscaler from $200.00 to $170.00 and set a neutral rating on the stock in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $220.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $216.97.

Zscaler Stock Performance

Shares of ZS opened at $198.26 on Tuesday. The company has a 50-day simple moving average of $178.40 and a 200-day simple moving average of $180.79. Zscaler has a 52 week low of $152.60 and a 52 week high of $259.61. The firm has a market capitalization of $30.23 billion, a P/E ratio of -495.64 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.17) earnings per share. As a group, equities analysts forecast that Zscaler will post -0.95 earnings per share for the current year.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. Quest Partners LLC bought a new position in shares of Zscaler during the 2nd quarter valued at $28,000. Asset Dedication LLC boosted its position in Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new position in Zscaler in the second quarter worth about $50,000. GAMMA Investing LLC increased its position in shares of Zscaler by 103.2% during the 1st quarter. GAMMA Investing LLC now owns 315 shares of the company’s stock valued at $61,000 after purchasing an additional 160 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in shares of Zscaler in the 1st quarter worth approximately $67,000. 46.45% of the stock is owned by 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.