Zscaler (NASDAQ:ZS) Stock Rating Reaffirmed by Royal Bank of Canada

Zscaler (NASDAQ:ZS)‘s stock had its “outperform” rating restated by Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $230.00 target price on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 41.76% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Raymond James assumed coverage on shares of Zscaler in a report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Wells Fargo & Company restated an “equal weight” rating and set a $182.00 target price (down from $275.00) on shares of Zscaler in a research report on Tuesday, May 28th. UBS Group dropped their price objective on shares of Zscaler from $300.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, May 29th. Cantor Fitzgerald lowered their target price on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Mizuho downgraded Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price objective on the stock. in a research report on Tuesday, July 16th. Nine investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $217.41.

Zscaler Stock Performance

NASDAQ:ZS opened at $162.25 on Wednesday. The stock has a market capitalization of $24.52 billion, a P/E ratio of -318.14 and a beta of 0.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The company has a 50 day moving average price of $188.36 and a 200 day moving average price of $188.32.

Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period last year, the business posted ($0.17) EPS. Equities research analysts forecast that Zscaler will post -0.32 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of institutional investors have recently modified their holdings of the stock. Sanctuary Advisors LLC bought a new stake in Zscaler during the second quarter worth about $1,328,000. Truist Financial Corp raised its position in Zscaler by 137.3% during the second quarter. Truist Financial Corp now owns 2,572 shares of the company’s stock valued at $494,000 after purchasing an additional 1,488 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Zscaler by 166.2% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,012 shares of the company’s stock valued at $1,924,000 after purchasing an additional 6,251 shares in the last quarter. Quarry LP raised its holdings in shares of Zscaler by 613.0% during the 2nd quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after buying an additional 331 shares in the last quarter. Finally, Capital Impact Advisors LLC acquired a new position in Zscaler during the 2nd quarter worth approximately $866,000. 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.