Macquarie Reiterates Outperform Rating for Zscaler (NASDAQ:ZS)

Zscaler (NASDAQ:ZSGet Free Report)‘s stock had its “outperform” rating restated by investment analysts at Macquarie in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $245.00 target price on the stock. Macquarie’s price target suggests a potential upside of 24.18% from the stock’s previous close.

ZS has been the topic of a number of other research reports. Susquehanna assumed coverage on shares of Zscaler in a report on Friday, December 15th. They set a “positive” rating and a $275.00 price target on the stock. Needham & Company LLC reiterated a “strong-buy” rating and issued a $290.00 price target on shares of Zscaler in a research report on Friday, March 1st. Oppenheimer boosted their price objective on shares of Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research report on Wednesday, January 3rd. The Goldman Sachs Group lifted their target price on Zscaler from $189.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday, March 4th. Finally, JPMorgan Chase & Co. upped their price target on Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Six analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $230.55.

View Our Latest Analysis on Zscaler

Zscaler Stock Up 1.1 %

NASDAQ:ZS opened at $197.30 on Tuesday. The firm has a market cap of $29.57 billion, a P/E ratio of -207.68 and a beta of 0.85. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. Zscaler has a fifty-two week low of $84.93 and a fifty-two week high of $259.61. The firm has a 50-day simple moving average of $228.99 and a two-hundred day simple moving average of $198.46.

Zscaler (NASDAQ:ZSGet Free Report) last released its quarterly earnings data 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. The business had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Analysts predict that Zscaler will post -0.83 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 7,707 shares of the company’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 value of $1,488,607.05. Following the sale, the chief financial officer now owns 255,943 shares in the company, valued at approximately $49,435,390.45. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Remo Canessa sold 7,707 shares of the 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 $1,488,607.05. Following 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 legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the 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 $408,512.25. Following the transaction, the chief executive officer now owns 367,152 shares in the company, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,715 shares of company stock worth $8,909,342. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of ZS. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Zscaler by 14.1% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock worth $134,476,000 after acquiring an additional 68,982 shares during the last quarter. AlphaCrest Capital Management LLC acquired a new stake in shares of Zscaler during the 1st quarter worth about $244,000. D.A. Davidson & CO. increased its position in shares of Zscaler by 41.6% during the 1st quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock worth $273,000 after purchasing an additional 332 shares during the last quarter. MetLife Investment Management LLC acquired a new stake in shares of Zscaler during the 1st quarter worth about $1,232,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Zscaler by 1.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock worth $29,338,000 after purchasing an additional 2,153 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

About Zscaler

(Get Free Report)

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.

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