Zscaler, Inc. (NASDAQ:ZS) Given Average Rating of “Moderate Buy” by Analysts

Zscaler, Inc. (NASDAQ:ZS) has been assigned an average recommendation of “Moderate Buy” from the thirty-three research firms that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $230.24.

ZS has been the topic of a number of recent research reports. Oppenheimer increased their target price on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Barclays cut their target price on Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a research note on Friday, March 1st. Citigroup increased their price objective on Zscaler from $235.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. BMO Capital Markets dropped their price objective on Zscaler from $268.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. Finally, Truist Financial reaffirmed a “buy” rating and set a $260.00 price objective on shares of Zscaler in a research report on Monday, April 1st.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s 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 $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares in the company, valued at approximately $70,915,408.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Remo Canessa sold 7,707 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 value of $1,488,607.05. Following the completion of the transaction, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 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 value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders sold 26,715 shares of company stock worth $5,865,882 in the last quarter. 19.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC purchased a new position in shares of Zscaler in the 4th quarter worth approximately $9,674,000. Nordea Investment Management AB boosted its holdings in Zscaler by 463.5% during the 4th quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock valued at $6,629,000 after acquiring an additional 24,514 shares during the period. Vanguard Group Inc. boosted its holdings in Zscaler by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after acquiring an additional 129,090 shares during the period. AQR Capital Management LLC boosted its holdings in Zscaler by 272.6% during the 3rd quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock valued at $6,518,000 after acquiring an additional 30,650 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in Zscaler by 19,012.4% during the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after acquiring an additional 222,825 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Price Performance

ZS opened at $170.97 on Thursday. The stock has a fifty day simple moving average of $204.42 and a two-hundred day simple moving average of $203.48. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The company has a market cap of $25.63 billion, a price-to-earnings ratio of -179.97 and a beta of 0.81. Zscaler has a 12-month low of $84.93 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $507.56 million. Research analysts predict that Zscaler will post -0.81 earnings per share 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.