Zscaler’s (ZS) Outperform Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Zscaler (NASDAQ:ZS) in a research report released on Wednesday, Benzinga reports. Royal Bank of Canada currently has a $230.00 price objective on the stock.

Several other analysts also recently commented on the stock. BTIG Research dropped their target price on shares of Zscaler from $258.00 to $220.00 and set a buy rating on the stock in a report on Friday, May 31st. Morgan Stanley boosted their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Mizuho cut Zscaler from an outperform rating to a neutral rating and set a $220.00 target price for the company. in a report on Tuesday, July 16th. Needham & Company LLC cut their price target on Zscaler from $290.00 to $235.00 and set a strong-buy rating on the stock in a report on Wednesday. Finally, Rosenblatt Securities reissued a neutral rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $217.41.

Zscaler Trading Down 18.7 %

ZS opened at $157.13 on Wednesday. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61. The firm has a market cap of $23.75 billion, a PE ratio of -308.10 and a beta of 0.85. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The firm’s fifty day moving average is $188.90 and its two-hundred day moving average is $188.50.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The firm had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities research analysts anticipate that Zscaler will post -0.32 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds have recently added to or reduced their stakes in ZS. Sierra Summit Advisors LLC bought a new position in shares of Zscaler in the 4th quarter valued at $5,609,000. 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 worth $20,021,000 after purchasing an additional 6,683 shares in the last quarter. Norges Bank bought a new position in Zscaler in the fourth quarter valued at about $117,599,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Zscaler by 9.1% during 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 purchasing an additional 9,689 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC grew its holdings in shares of Zscaler by 40.0% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock worth $470,000 after purchasing an additional 696 shares during 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.