Zscaler (NASDAQ:ZS) Upgraded by Cantor Fitzgerald to Hold Rating

Cantor Fitzgerald upgraded shares of Zscaler (NASDAQ:ZS) to a hold rating in a report published on Monday morning,Zacks.com reports.

A number of other analysts have also weighed in on the stock. Wedbush cut their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Oppenheimer cut their target price on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Raymond James started coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They set a “market perform” rating on the stock. Piper Sandler cut their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. Finally, BNP Paribas assumed coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $217.79.

Zscaler Stock Performance

Shares of ZS opened at $207.30 on Monday. The stock has a market capitalization of $31.61 billion, a PE ratio of -518.24 and a beta of 0.82. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61. The company’s 50-day simple moving average is $185.67 and its 200-day simple moving average is $183.33.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (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 business had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The business’s quarterly revenue was up 30.3% on a year-over-year basis. On average, sell-side analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZS. O Shaughnessy Asset Management LLC increased its position in shares of Zscaler by 3.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 4,104 shares of the company’s stock valued at $790,000 after buying an additional 149 shares in the last quarter. UniSuper Management Pty Ltd increased its position in Zscaler by 116.7% during the 1st quarter. UniSuper Management Pty Ltd now owns 1,300 shares of the company’s stock worth $250,000 after purchasing an additional 700 shares in the last quarter. Advisors Asset Management Inc. increased its position in Zscaler by 59.8% during the 1st quarter. Advisors Asset Management Inc. now owns 2,229 shares of the company’s stock worth $429,000 after purchasing an additional 834 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Zscaler during the 1st quarter worth about $47,217,000. Finally, Caxton Associates LP purchased a new stake in Zscaler during the 1st quarter worth about $2,697,000. Hedge funds and other institutional investors 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.