Zscaler (NASDAQ:ZS) Earns “Neutral” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their neutral rating on shares of Zscaler (NASDAQ:ZS) in a report released on Wednesday morning, Benzinga reports. They currently have a $230.00 price objective on the stock.

Several other research firms have also recently commented on ZS. KeyCorp initiated coverage on Zscaler in a research note on Wednesday, January 17th. They issued a sector weight rating on the stock. Needham & Company LLC restated a strong-buy rating and set a $290.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Rosenblatt Securities upped their price objective on Zscaler from $285.00 to $290.00 and gave the company a buy rating in a research note on Friday, March 1st. Susquehanna started coverage on Zscaler in a research note on Friday, December 15th. They set a positive rating and a $275.00 price objective on the stock. Finally, Stephens upped their price objective on Zscaler from $200.00 to $225.00 and gave the company an overweight rating in a research note on Tuesday, November 28th. Six investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $230.55.

Zscaler Price Performance

Shares of NASDAQ:ZS opened at $192.63 on Wednesday. The company has a market cap of $28.87 billion, a P/E ratio of -202.77 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. Zscaler has a 52 week low of $84.93 and a 52 week high of $259.61. The business has a fifty day simple moving average of $224.09 and a 200-day simple moving average of $199.83.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Equities research analysts forecast that Zscaler will post -0.81 EPS for the current year.

Insider Transactions at Zscaler

In related news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Zscaler news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the sale, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $1,488,607.05. Following the sale, the chief financial officer now directly owns 255,943 shares in the company, valued at $49,435,390.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,715 shares of company stock worth $8,909,342. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently added to or reduced their stakes in ZS. Nordea Investment Management AB boosted its holdings in shares of Zscaler by 463.5% in the 4th quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock worth $6,629,000 after acquiring an additional 24,514 shares in the last quarter. Vanguard Group Inc. raised its position in Zscaler by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares during the last quarter. AQR Capital Management LLC raised its position in Zscaler by 272.6% in the 3rd quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock worth $6,518,000 after purchasing an additional 30,650 shares during the last quarter. DNB Asset Management AS raised its position in Zscaler by 0.5% in the 4th quarter. DNB Asset Management AS now owns 21,180 shares of the company’s stock worth $4,693,000 after purchasing an additional 111 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Zscaler by 2.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 293,732 shares of the company’s stock worth $45,702,000 after purchasing an additional 7,184 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.