Rosenblatt Securities Reaffirms Neutral Rating for Zscaler (NASDAQ:ZS)

Rosenblatt Securities reissued their neutral rating on shares of Zscaler (NASDAQ:ZSFree Report) in a research report report published on Tuesday, Marketbeat Ratings reports. Rosenblatt Securities currently has a $190.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reiterated a strong-buy rating and issued a $290.00 target price on shares of Zscaler in a report on Friday, March 1st. JMP Securities restated a market outperform rating and set a $270.00 price objective on shares of Zscaler in a report on Tuesday, May 14th. Stifel Nicolaus cut their price objective on shares of Zscaler from $270.00 to $220.00 and set a buy rating on the stock in a report on Thursday, May 16th. Truist Financial reiterated a buy rating and issued a $260.00 target price on shares of Zscaler in a research report on Monday, April 1st. Finally, Robert W. Baird dropped their target price on Zscaler from $265.00 to $260.00 and set an outperform rating on the stock in a research report on Friday, May 24th. Seven investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $227.79.

Get Our Latest Analysis on ZS

Zscaler Stock Down 4.7 %

NASDAQ ZS opened at $156.65 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The company has a fifty day moving average of $178.67 and a two-hundred day moving average of $204.63. The firm has a market capitalization of $23.48 billion, a price-to-earnings ratio of -164.89 and a beta of 0.85. Zscaler has a 52 week low of $128.12 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZSGet Free Report) last issued its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. On average, analysts predict that Zscaler will post -0.8 earnings per share for the current year.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,707 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 $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zscaler news, CFO Remo Canessa sold 7,707 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 $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders sold a total of 12,715 shares of company stock valued at $2,455,902 in the last three months. 19.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently modified their holdings of ZS. Vanguard Group Inc. boosted its holdings in Zscaler by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock valued at $1,726,307,000 after acquiring an additional 118,002 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Zscaler during the 4th quarter worth about $217,683,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Zscaler by 19.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after acquiring an additional 102,616 shares in the last quarter. Northern Trust Corp raised its position in shares of Zscaler by 5.6% during the 3rd quarter. Northern Trust Corp now owns 556,446 shares of the company’s stock worth $86,577,000 after acquiring an additional 29,405 shares in the last quarter. Finally, Norges Bank acquired a new position in Zscaler during the fourth quarter worth approximately $117,599,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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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