Zscaler’s (ZS) Strong-Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their strong-buy rating on shares of Zscaler (NASDAQ:ZSFree Report) in a research note released on Friday morning, Benzinga reports. The firm currently has a $290.00 target price on the stock.

ZS has been the topic of several other reports. JMP Securities restated a market outperform rating and issued a $270.00 price objective on shares of Zscaler in a research report on Tuesday, May 14th. Truist Financial restated a buy rating and issued a $260.00 price objective on shares of Zscaler in a research report on Monday, April 1st. Rosenblatt Securities restated a neutral rating and issued a $190.00 price objective on shares of Zscaler in a research report on Tuesday. Wedbush upped their price objective on shares of Zscaler from $250.00 to $260.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Finally, KeyCorp upgraded shares of Zscaler from a sector weight rating to an overweight rating and set a $220.00 price objective on the stock in a research report on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $223.85.

Read Our Latest Report on Zscaler

Zscaler Trading Up 8.5 %

Shares of ZS opened at $169.96 on Friday. The business’s 50-day moving average price is $178.17 and its 200-day moving average price is $204.57. Zscaler has a twelve month low of $128.12 and a twelve month high of $259.61. The stock has a market cap of $25.48 billion, a PE ratio of -333.25 and a beta of 0.85. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZSGet Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 6.31% and a negative net margin of 3.62%. The firm had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. On average, equities analysts forecast that Zscaler will post -0.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Syam Nair sold 2,893 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $558,782.95. Following the transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at approximately $26,518,336.10. The disclosure for this sale can be found here. Insiders sold 12,715 shares of company stock valued at $2,455,902 over the last quarter. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in Zscaler during the fourth quarter valued at $29,000. Parkside Financial Bank & Trust increased its holdings in shares of Zscaler by 582.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock valued at $35,000 after acquiring an additional 134 shares in the last quarter. GAMMA Investing LLC bought a new position in shares of Zscaler during the fourth quarter valued at $37,000. Quadrant Capital Group LLC increased its holdings in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its holdings in shares of Zscaler by 109.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 209 shares of the company’s stock valued at $46,000 after acquiring an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

About Zscaler

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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