Zscaler (NASDAQ:ZS) Given Neutral Rating at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their neutral rating on shares of Zscaler (NASDAQ:ZS) in a report released on Wednesday morning, Benzinga reports. Cantor Fitzgerald currently has a $230.00 price target on the stock.

A number of other brokerages have also commented on ZS. Barclays cut their price objective on shares of Zscaler from $259.00 to $240.00 and set an overweight rating on the stock in a report on Friday, March 1st. JMP Securities reissued a market outperform rating and issued a $270.00 price target on shares of Zscaler in a report on Friday, March 1st. TD Cowen lifted their price objective on Zscaler from $195.00 to $215.00 and gave the stock an outperform rating in a report on Tuesday, November 28th. The Goldman Sachs Group increased their target price on Zscaler from $189.00 to $215.00 and gave the company a neutral rating in a research note on Monday, March 4th. Finally, Rosenblatt Securities lifted their price target on shares of Zscaler from $285.00 to $290.00 and gave the stock a buy rating in a research note on Friday, March 1st. Six investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has an average rating of Moderate Buy and a consensus price target of $230.55.

Zscaler Trading Down 1.1 %

NASDAQ ZS opened at $193.48 on Wednesday. Zscaler has a one year low of $84.93 and a one year high of $259.61. The company’s 50 day moving average price is $225.57 and its 200 day moving average price is $199.69. The firm has a market capitalization of $28.99 billion, a price-to-earnings ratio of -203.66 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 (NASDAQ:ZS) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $507.56 million. On average, sell-side analysts predict that Zscaler will post -0.81 EPS for the current year.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Remo Canessa sold 7,707 shares of Zscaler stock in a transaction dated 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 directly owns 255,943 shares of the company’s stock, valued at $49,435,390.45. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold a total of 40,715 shares of company stock worth $8,909,342 over the last ninety days. 19.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in Zscaler by 3.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,398 shares of the company’s stock worth $1,639,000 after buying an additional 251 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Zscaler by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after acquiring an additional 206,908 shares during the last quarter. Fisher Asset Management LLC boosted its stake in shares of Zscaler by 5.3% during the 4th quarter. Fisher Asset Management LLC now owns 14,657 shares of the company’s stock worth $3,247,000 after acquiring an additional 737 shares in the last quarter. Greenwood Capital Associates LLC grew its holdings in shares of Zscaler by 19.0% in the 4th quarter. Greenwood Capital Associates LLC now owns 3,463 shares of the company’s stock worth $767,000 after acquiring an additional 553 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Zscaler by 3.0% during the fourth quarter. American International Group Inc. now owns 11,805 shares of the company’s stock worth $2,616,000 after purchasing an additional 348 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Zscaler Company Profile

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.