Zscaler, Inc. (NASDAQ:ZS) Receives $230.55 Average PT from Analysts

Zscaler, Inc. (NASDAQ:ZS) has received an average recommendation of “Moderate Buy” from the thirty-three ratings firms that are currently covering the firm, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $230.55.

A number of research analysts have commented on ZS shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $220.00 price target on shares of Zscaler in a research report on Tuesday, November 28th. Susquehanna started coverage on Zscaler in a research report on Friday, December 15th. They set a “positive” rating and a $275.00 price target for the company. KeyCorp started coverage on Zscaler in a research report on Wednesday, January 17th. They set a “sector weight” rating for the company. Rosenblatt Securities upped their price target on Zscaler from $285.00 to $290.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Cantor Fitzgerald lowered their price target on Zscaler from $250.00 to $230.00 and set a “neutral” rating for the company in a research report on Friday, March 1st.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Karen Blasing sold 7,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $210.31, for a total transaction of $1,472,170.00. Following the sale, the director now directly owns 31,873 shares in the company, valued at approximately $6,703,210.63. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Blasing sold 7,000 shares of the stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $210.31, for a total value of $1,472,170.00. Following the transaction, the director now directly owns 31,873 shares in the company, valued at $6,703,210.63. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,715 shares of company stock worth $8,909,342. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of ZS. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Zscaler by 14.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 557,345 shares of the company’s stock valued at $134,476,000 after buying an additional 68,982 shares during the period. AlphaCrest Capital Management LLC bought a new position in Zscaler in the 1st quarter worth $244,000. D.A. Davidson & CO. raised its holdings in Zscaler by 41.6% in the 1st quarter. D.A. Davidson & CO. now owns 1,130 shares of the company’s stock worth $273,000 after purchasing an additional 332 shares during the period. MetLife Investment Management LLC bought a new position in Zscaler in the 1st quarter worth $1,232,000. Finally, Dimensional Fund Advisors LP raised its holdings in Zscaler by 1.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 121,598 shares of the company’s stock worth $29,338,000 after purchasing an additional 2,153 shares during the period. 46.45% of the stock is owned by institutional investors.

Zscaler Trading Up 0.8 %

NASDAQ ZS opened at $195.63 on Friday. Zscaler has a 1-year low of $84.93 and a 1-year high of $259.61. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $226.20 and a 200-day moving average of $199.73. The firm has a market cap of $29.32 billion, a PE ratio of -205.93 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The company had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. As a group, sell-side analysts forecast that Zscaler will post -0.81 EPS for the current 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.