Zscaler, Inc. (NASDAQ:ZS) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Zscaler, Inc. (NASDAQ:ZS) have earned an average recommendation of “Moderate Buy” from the thirty-four brokerages that are presently covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $225.47.

ZS has been the subject of a number of research reports. KeyCorp increased their target price on shares of Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised their target price on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 4th. Finally, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock worth $2,052,879 in the last quarter. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Zscaler in the 2nd quarter worth approximately $28,000. Prestige Wealth Management Group LLC purchased a new stake in Zscaler in the third quarter worth $31,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the period. Versant Capital Management Inc increased its position in Zscaler by 136.8% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the period. Finally, Modus Advisors LLC bought a new position in Zscaler in the 4th quarter worth $36,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

Zscaler Trading Up 0.4 %

Shares of Zscaler stock opened at $193.47 on Friday. The business’s fifty day simple moving average is $195.05 and its 200 day simple moving average is $187.86. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.18) EPS. On average, sell-side analysts predict that Zscaler will post -0.16 earnings per share for the current year.

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.