Zscaler (NASDAQ:ZS) Now Covered by Analysts at Scotiabank

Scotiabank initiated coverage on shares of Zscaler (NASDAQ:ZS – Get Rating) in a research note issued to investors on Tuesday, The Fly reports. The brokerage set a “sector outperform” rating and a $115.00 price target on the stock. Scotiabank’s target price would indicate a potential upside of 1.74% from the company’s current price.

Several other research analysts also recently commented on ZS. Barclays reduced their price objective on Zscaler from $160.00 to $143.00 and set an “equal weight” rating for the company in a research note on Friday, December 2nd. Needham & Company LLC started coverage on Zscaler in a research note on Friday, January 13th. They issued a “buy” rating and a $210.00 price objective for the company. UBS Group reduced their price objective on Zscaler from $200.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, December 2nd. Wedbush cut their target price on Zscaler from $200.00 to $180.00 and set an “outperform” rating for the company in a research note on Friday, December 2nd. Finally, JMP Securities cut their target price on Zscaler from $280.00 to $225.00 and set a “market outperform” rating for the company in a research note on Friday, December 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $199.73.

Zscaler Trading Down 0.4 %

Shares of NASDAQ:ZS opened at $113.03 on Tuesday. Zscaler has a 1 year low of $99.64 and a 1 year high of $290.47. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of -43.47 and a beta of 0.88. The company has a debt-to-equity ratio of 2.64, a current ratio of 2.01 and a quick ratio of 2.01. The business’s 50 day moving average price is $120.86 and its 200-day moving average price is $145.66.

Zscaler (NASDAQ:ZS – Get Rating) last announced its earnings results on Thursday, December 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.04. Zscaler had a negative return on equity of 56.23% and a negative net margin of 30.23%. The firm had revenue of $355.55 million for the quarter, compared to analyst estimates of $341.08 million. On average, equities research analysts forecast that Zscaler will post -1.76 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, COO Dali Rajic sold 7,113 shares of the company’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $114.14, for a total value of $811,877.82. Following the completion of the transaction, the chief operating officer now directly owns 296,820 shares in the company, valued at $33,879,034.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Andrew William Fraser Brown bought 5,000 shares of the firm’s stock in a transaction dated Friday, December 23rd. The stock was bought at an average price of $108.78 per share, with a total value of $543,900.00. Following the completion of the transaction, the director now directly owns 23,250 shares of the company’s stock, valued at $2,529,135. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Dali Rajic sold 7,113 shares of the company’s stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $114.14, for a total value of $811,877.82. Following the completion of the sale, the chief operating officer now directly owns 296,820 shares of the company’s stock, valued at approximately $33,879,034.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,735 shares of company stock worth $2,252,553. 19.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Zscaler by 14.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock valued at $134,476,000 after purchasing an additional 68,982 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in Zscaler in the first quarter valued at about $244,000. D.A. Davidson & CO. raised its stake in Zscaler by 41.6% during the first quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock valued at $273,000 after buying an additional 332 shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Zscaler during the first quarter valued at approximately $1,232,000. Finally, Dimensional Fund Advisors LP raised its stake in Zscaler by 1.8% during the first quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock valued at $29,338,000 after buying an additional 2,153 shares in the last quarter. Hedge funds and other institutional investors own 45.33% of the company’s stock.

About Zscaler

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Zscaler, Inc engages in the provision of a cloud-based internet security platform. It offers Zero Trust Exchange, Zscaler Client Connector, Zscaler Internet Access, Zscaler Private Access, Zscaler B2B, Zscaler Cloud Protection, and Zscaler Digital Experience. The company was founded by Jagtar Singh Chaudhry and K.