Zscaler, Inc. (NASDAQ:ZS) Receives $216.73 Average PT from Analysts

Zscaler, Inc. (NASDAQ:ZS) has been assigned a consensus rating of “Moderate Buy” from the thirty-four brokerages that are presently covering the stock, Marketbeat reports. Ten research analysts have rated the stock with a hold recommendation, twenty-three have assigned 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 $216.73.

A number of research analysts have weighed in on ZS shares. Robert W. Baird cut their price objective on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. BMO Capital Markets reduced their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Scotiabank dropped their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research report on Wednesday, September 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Finally, BTIG Research dropped their price objective on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a report on Wednesday, September 4th.

Zscaler Stock Performance

NASDAQ ZS opened at $193.03 on Monday. The stock has a 50 day moving average price of $179.17 and a 200-day moving average price of $181.16. Zscaler has a one year low of $153.45 and a one year high of $259.61. The company has a market capitalization of $29.44 billion, a P/E ratio of -467.26 and a beta of 0.82.

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

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred 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 transaction, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares of the company’s stock, valued at $17,686,201.52. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated 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 sale, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 over the last quarter. 19.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Zscaler by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after acquiring an additional 118,002 shares during the period. Bank of New York Mellon Corp grew its stake in Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Federated Hermes Inc. increased its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock valued at $75,857,000 after purchasing an additional 61,037 shares during the period. Acadian Asset Management LLC raised its stake in shares of Zscaler by 0.9% in the first quarter. Acadian Asset Management LLC now owns 336,197 shares of the company’s stock worth $64,744,000 after purchasing an additional 2,937 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its holdings in shares of Zscaler by 14.4% during the second quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company’s stock worth $56,797,000 after purchasing an additional 37,137 shares during the period. 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.