Zscaler (NASDAQ:ZS) Research Coverage Started at B. Riley

B. Riley began coverage on shares of Zscaler (NASDAQ:ZS) in a research note released on Monday, Marketbeat reports. The firm issued a neutral rating and a $275.00 target price on the stock.

Several other equities research analysts have also commented on the company. Bank of America boosted their price objective on Zscaler from $285.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a research note on Friday, May 30th. Piper Sandler reiterated a “neutral” rating and set a $260.00 price objective (up from $235.00) on shares of Zscaler in a research note on Friday, May 30th. Robert W. Baird boosted their price objective on Zscaler from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Finally, BNP Paribas upgraded Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price objective for the company in a research note on Monday, April 28th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $296.49.

Zscaler Stock Up 2.0%

Shares of Zscaler stock opened at $273.07 on Monday. Zscaler has a twelve month low of $153.45 and a twelve month high of $318.46. The business has a 50-day moving average price of $290.22 and a 200 day moving average price of $247.90. The firm has a market cap of $42.52 billion, a PE ratio of -1,050.27, a P/E/G ratio of 285.53 and a beta of 1.06.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%.The company had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same period in the previous year, the business earned $0.88 EPS. Zscaler’s quarterly revenue was up 22.6% on a year-over-year basis. On average, sell-side analysts expect that Zscaler will post -0.1 EPS for the current year.

Insider Buying and Selling at Zscaler

In other news, insider Syam Nair sold 4,064 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total transaction of $1,234,236.80. Following the transaction, the insider directly owned 106,659 shares in the company, valued at $32,392,338.30. The trade was a 3.67% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 4,618 shares of the business’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the transaction, the insider owned 95,612 shares in the company, valued at approximately $28,683,600. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,256 shares of company stock worth $50,618,544. 18.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Zscaler by 8.3% in the second quarter. Vanguard Group Inc. now owns 10,715,132 shares of the company’s stock valued at $3,363,909,000 after acquiring an additional 824,626 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock valued at $604,831,000 after acquiring an additional 578,883 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new position in Zscaler in the first quarter valued at approximately $516,622,000. Geode Capital Management LLC lifted its holdings in Zscaler by 6.0% in the second quarter. Geode Capital Management LLC now owns 1,866,329 shares of the company’s stock valued at $584,160,000 after acquiring an additional 105,318 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Zscaler by 0.7% in the second quarter. AQR Capital Management LLC now owns 1,199,815 shares of the company’s stock valued at $371,823,000 after acquiring an additional 7,885 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.