Zscaler’s (ZS) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a research report sent to investors on Monday,Benzinga reports. They currently have a $270.00 price target on the stock.

ZS has been the topic of a number of other research reports. Cantor Fitzgerald cut their price target on Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $220.00 target price on shares of Zscaler in a report on Wednesday, September 4th. Barclays lowered their price target on Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Scotiabank reduced their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.73.

Zscaler Stock Up 1.9 %

Shares of ZS stock opened at $196.71 on Monday. The firm has a market cap of $30.00 billion, a price-to-earnings ratio of -491.76 and a beta of 0.82. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The stock has a 50-day moving average price of $179.14 and a 200 day moving average price of $181.35.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the previous year, the company earned ($0.17) EPS. Zscaler’s revenue was up 30.3% on a year-over-year basis. Sell-side analysts predict that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was 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 directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last 90 days. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System increased its holdings in Zscaler by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock valued at $20,021,000 after buying an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Zscaler by 9.1% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after acquiring an additional 9,689 shares during the last quarter. Norden Group LLC acquired a new position in Zscaler during the first quarter valued at approximately $846,000. DekaBank Deutsche Girozentrale lifted its stake in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares during the last quarter. Finally, Creative Planning boosted its holdings in shares of Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.