Zscaler, Inc. (NASDAQ:ZS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned a consensus rating of “Moderate Buy” from the thirty-four ratings firms that are currently covering the firm, Marketbeat Ratings reports. Nine research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $218.39.

Several research analysts have recently commented on ZS shares. Sanford C. Bernstein decreased their price objective on Zscaler from $280.00 to $270.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. BTIG Research decreased their price objective on Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wedbush decreased their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Scotiabank decreased their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. Finally, UBS Group decreased their price objective on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th.

Insider Buying and Selling

In related news, 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 transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The disclosure for this sale can be found here. Insiders sold a total of 16,120 shares of company stock worth $2,761,034 in the last three months. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently added to or reduced their stakes in ZS. 1832 Asset Management L.P. bought a new stake in shares of Zscaler during the 4th quarter valued at $217,683,000. Norges Bank bought a new stake in shares of Zscaler during the 4th quarter valued at $117,599,000. Quadrature Capital Ltd bought a new stake in shares of Zscaler during the 1st quarter valued at $47,217,000. Vanguard Group Inc. grew 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 period. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Zscaler during the 1st quarter valued at $27,954,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Stock Up 2.4 %

NASDAQ ZS opened at $172.58 on Friday. The stock’s 50-day simple moving average is $182.33 and its two-hundred day simple moving average is $183.49. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of -337.43 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the business posted ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities analysts expect that Zscaler will post -0.92 earnings per share for the current fiscal 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.