Zscaler, Inc. (NASDAQ:ZS) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Zscaler, Inc. (NASDAQ:ZSGet Rating) has earned an average recommendation of “Moderate Buy” from the thirty-six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $235.58.

A number of brokerages have recently issued reports on ZS. Cowen lowered their price target on shares of Zscaler from $405.00 to $194.00 and set an “outperform” rating on the stock in a report on Friday, May 27th. Citigroup increased their price target on shares of Zscaler from $200.00 to $225.00 in a report on Tuesday, September 13th. Needham & Company LLC increased their price target on shares of Zscaler from $185.00 to $210.00 and gave the stock a “strong-buy” rating in a report on Friday, September 9th. Wells Fargo & Company increased their price target on shares of Zscaler from $220.00 to $225.00 and gave the stock an “overweight” rating in a report on Friday, September 9th. Finally, Canaccord Genuity Group increased their price target on shares of Zscaler from $210.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, September 9th.

Zscaler Price Performance

ZS opened at $172.68 on Wednesday. The firm has a market cap of $24.70 billion, a P/E ratio of -62.34 and a beta of 1.02. The firm has a 50-day moving average of $163.36 and a 200 day moving average of $177.26. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.99 and a current ratio of 1.99. Zscaler has a fifty-two week low of $125.12 and a fifty-two week high of $376.11.

Zscaler (NASDAQ:ZSGet Rating) last released its quarterly earnings data on Thursday, September 8th. The company reported $0.25 EPS for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $318.06 million for the quarter, compared to the consensus estimate of $305.54 million. Zscaler had a negative net margin of 35.77% and a negative return on equity of 55.59%. The company’s revenue was up 61.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.48) earnings per share. On average, research analysts expect that Zscaler will post -2.17 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 81,890 shares of the firm’s stock in a transaction on Friday, September 16th. The stock was sold at an average price of $167.97, for a total transaction of $13,755,063.30. Following the completion of the transaction, the chief executive officer now owns 281,107 shares of the company’s stock, valued at $47,217,542.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jagtar Singh Chaudhry sold 81,890 shares of Zscaler stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $13,755,063.30. Following the completion of the transaction, the chief executive officer now owns 281,107 shares of the company’s stock, valued at approximately $47,217,542.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 8,045 shares of Zscaler stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $167.97, for a total value of $1,351,318.65. Following the completion of the transaction, the insider now directly owns 135,381 shares of the company’s stock, valued at approximately $22,739,946.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 151,514 shares of company stock valued at $25,449,807. 20.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. Capital Research Global Investors increased its holdings in Zscaler by 40.4% in the 1st quarter. Capital Research Global Investors now owns 4,377,330 shares of the company’s stock worth $1,056,162,000 after buying an additional 1,259,876 shares in the last quarter. First Trust Advisors LP increased its holdings in Zscaler by 75.2% in the 1st quarter. First Trust Advisors LP now owns 2,265,816 shares of the company’s stock worth $546,696,000 after buying an additional 972,637 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Zscaler in the 1st quarter worth about $168,365,000. Norges Bank bought a new stake in Zscaler in the 4th quarter worth about $202,020,000. Finally, Scge Management L.P. bought a new stake in shares of Zscaler during the 1st quarter valued at about $141,873,000. Hedge funds and other institutional investors own 45.51% of the company’s stock.

About Zscaler

(Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. It 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.

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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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