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

Zscaler, Inc. (NASDAQ:ZS) has been given a consensus recommendation of “Moderate Buy” by the thirty-four research firms that are presently covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $224.38.

ZS has been the topic of a number of recent research reports. Scotiabank increased their price target on Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a research report on Tuesday. Robert W. Baird dropped their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley reduced their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, BTIG Research boosted their price objective on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th.

Insider Activity

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in shares of Zscaler during the second quarter worth $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler during the third quarter worth $31,000. True Wealth Design LLC increased its position in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Asset Dedication LLC increased its position in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Zscaler during the 3rd quarter worth approximately $38,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Stock Down 4.7 %

ZS stock opened at $198.64 on Friday. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The firm’s 50-day moving average is $190.79 and its 200 day moving average is $185.01.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period last year, the company posted ($0.18) earnings per share. As a group, sell-side analysts predict that Zscaler will post -0.95 EPS for the current 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.