Zscaler, Inc. (NASDAQ:ZS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Zscaler, Inc. (NASDAQ:ZS) has earned a consensus recommendation of “Moderate Buy” from the thirty-three brokerages that are presently covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $230.55.

ZS has been the subject of a number of research analyst reports. Sanford C. Bernstein lowered their price target on Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Rosenblatt Securities lifted their price target on shares of Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Truist Financial reissued a “buy” rating and issued a $260.00 price target on shares of Zscaler in a research report on Monday, April 1st. Morgan Stanley raised their price objective on Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a report on Monday, February 26th. Finally, KeyCorp initiated coverage on Zscaler in a report on Wednesday, January 17th. They issued a “sector weight” rating for the company.

Zscaler Price Performance

Shares of ZS opened at $172.96 on Thursday. The firm has a market capitalization of $25.92 billion, a price-to-earnings ratio of -182.06 and a beta of 0.80. The firm’s fifty day simple moving average is $209.32 and its 200-day simple moving average is $202.81. Zscaler has a twelve month low of $84.93 and a twelve month 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.

Zscaler (NASDAQ:ZS) last posted its quarterly 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. The company had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Equities analysts forecast that Zscaler will post -0.81 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’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 sale, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karen Blasing sold 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the sale, the director now owns 40,372 shares in the company, valued at $10,129,334.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,115 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 value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at approximately $70,915,408.80. The disclosure for this sale can be found here. Insiders sold 26,715 shares of company stock worth $5,865,882 in the last ninety days. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC acquired a new stake in Zscaler during the fourth quarter worth about $9,674,000. Nordea Investment Management AB lifted its stake in shares of Zscaler by 463.5% during the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock worth $6,629,000 after purchasing an additional 24,514 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after buying an additional 129,090 shares during the period. AQR Capital Management LLC grew its stake in shares of Zscaler by 272.6% in the third quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock valued at $6,518,000 after buying an additional 30,650 shares in the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Zscaler by 19,012.4% during the 4th quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock valued at $49,629,000 after buying an additional 222,825 shares during the period. Hedge funds and other institutional investors 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.