Zscaler’s (ZS) Neutral Rating Reiterated at Rosenblatt Securities

Zscaler (NASDAQ:ZS)‘s stock had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities in a report released on Wednesday,Benzinga reports. They presently have a $190.00 price target on the stock. Rosenblatt Securities’ price target suggests a potential downside of 1.97% from the stock’s previous close.

Several other equities research analysts have also weighed in on ZS. BMO Capital Markets upped their target price on shares of Zscaler from $197.00 to $222.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Scotiabank increased their price target on Zscaler from $205.00 to $225.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, January 21st. Citigroup lifted 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. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $226.94.

Zscaler Stock Up 2.7 %

Shares of ZS opened at $193.82 on Wednesday. The company has a 50-day moving average price of $195.83 and a two-hundred day moving average price of $191.54. The stock has a market cap of $29.74 billion, a price-to-earnings ratio of -775.28 and a beta of 0.89. Zscaler has a 12 month low of $153.45 and a 12 month high of $217.84.

Zscaler (NASDAQ:ZS) last announced its quarterly 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. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the previous year, the firm earned ($0.18) EPS. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. Equities research analysts expect that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, insider Syam Nair sold 3,682 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, 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 can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of ZS. Fred Alger Management LLC boosted its holdings in shares of Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after buying an additional 9,542 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC grew its position in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock valued at $14,061,000 after acquiring an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in Zscaler by 30.3% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company’s stock worth $1,515,000 after purchasing an additional 1,952 shares during the period. Finally, Van ECK Associates Corp increased its position in Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after buying an additional 14,274 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.