Zscaler (NASDAQ:ZS) Rating Reiterated by Truist Financial

Zscaler (NASDAQ:ZS)‘s stock had its “buy” rating reissued by analysts at Truist Financial in a research note issued on Monday, Benzinga reports. They presently have a $260.00 price objective on the stock. Truist Financial’s price target suggests a potential upside of 37.76% from the company’s previous close.

Several other research firms have also recently issued reports on ZS. Susquehanna started coverage on Zscaler in a report on Friday, December 15th. They issued a “positive” rating and a $275.00 price target on the stock. Macquarie reiterated an “outperform” rating and issued a $245.00 price target on shares of Zscaler in a report on Tuesday, March 19th. Morgan Stanley raised their price target on Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a report on Monday, February 26th. Robert W. Baird raised their target price on Zscaler from $255.00 to $265.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Finally, Barclays reduced their target price on Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Six analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $230.55.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $188.74 on Monday. Zscaler has a twelve month low of $84.93 and a twelve month high of $259.61. The firm has a market cap of $28.28 billion, a PE ratio of -198.67 and a beta of 0.81. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The business has a fifty day moving average of $222.04 and a 200-day moving average of $200.86.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share 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 company had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. On average, equities research analysts predict that Zscaler will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the transaction, the director now directly owns 40,372 shares of the company’s stock, valued at approximately $10,129,334.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total value of $1,756,300.00. Following the completion of the sale, the director now directly owns 40,372 shares in the company, valued at approximately $10,129,334.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,715 shares of company stock valued at $7,437,172. 19.20% of the stock is owned by insiders.

Institutional Trading of Zscaler

A number of institutional investors have recently modified their holdings of ZS. Jones Financial Companies Lllp acquired a new position in shares of Zscaler during the 4th quarter worth $29,000. BluePath Capital Management LLC acquired a new position in shares of Zscaler during the 3rd quarter worth $32,000. Parkside Financial Bank & Trust raised its holdings in shares of Zscaler by 582.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Zscaler during the 4th quarter worth $37,000. Finally, Quadrant Capital Group LLC raised its holdings in shares of Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares in the last quarter. 46.45% of the stock is currently 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.