Rosenblatt Securities Reiterates “Neutral” Rating for Zscaler (NASDAQ:ZS)

Rosenblatt Securities reissued their neutral rating on shares of Zscaler (NASDAQ:ZS) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $190.00 price target on the stock.

A number of other analysts have also weighed in on the company. Morgan Stanley cut their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Oppenheimer upped their price objective on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus upped their price objective on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Barclays upped their price objective on Zscaler from $220.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $226.94.

Zscaler Stock Up 1.4 %

Shares of NASDAQ ZS opened at $196.45 on Wednesday. The firm has a market cap of $30.14 billion, a price-to-earnings ratio of -785.80 and a beta of 0.89. Zscaler has a 52-week low of $153.45 and a 52-week high of $217.84. The business’s 50 day moving average is $195.83 and its two-hundred day moving average is $191.54.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.18) earnings per share. Analysts anticipate that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Transactions at Zscaler

In related news, insider Syam Nair sold 3,682 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Siemens Fonds Invest GmbH purchased a new position in Zscaler during the fourth quarter worth about $2,047,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Zscaler in the fourth quarter valued at about $28,802,000. Brooklyn FI LLC purchased a new position in Zscaler in the fourth quarter valued at about $1,957,000. Azzad Asset Management Inc. ADV increased its holdings in Zscaler by 0.5% in the fourth quarter. Azzad Asset Management Inc. ADV now owns 18,788 shares of the company’s stock valued at $3,390,000 after buying an additional 85 shares in the last quarter. Finally, Liberty Square Wealth Partners LLC purchased a new position in Zscaler in the fourth quarter valued at about $209,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

About Zscaler

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.