Zscaler (NASDAQ:ZS) Reaches New 1-Year High at $294.00

Zscaler, Inc. (NASDAQ:ZS)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $294.00 and last traded at $293.08, with a volume of 21674 shares changing hands. The stock had previously closed at $286.64.

Several equities research analysts recently issued reports on the stock. Piper Sandler lifted their price target on shares of Zscaler from $235.00 to $285.00 and gave the company a “neutral” rating in a report on Friday, September 10th. They noted that the move was a valuation call. Daiwa Capital Markets initiated coverage on shares of Zscaler in a report on Wednesday, September 29th. They set a “neutral” rating and a $266.00 target price on the stock. UBS Group boosted their target price on shares of Zscaler from $225.00 to $295.00 and gave the stock a “neutral” rating in a report on Friday, September 10th. Robert W. Baird boosted their target price on shares of Zscaler from $240.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. Finally, BMO Capital Markets boosted their target price on shares of Zscaler from $250.00 to $315.00 and gave the stock an “outperform” rating in a report on Friday, September 10th. Nine equities research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $287.86.

The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.77. The stock has a market cap of $40.65 billion, a P/E ratio of -151.64 and a beta of 0.82. The business’s 50-day simple moving average is $264.86 and its two-hundred day simple moving average is $222.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Wednesday, September 8th. The company reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.05. Zscaler had a negative net margin of 38.93% and a negative return on equity of 40.50%. The firm had revenue of $197.07 million during the quarter, compared to analyst estimates of $187.44 million. During the same quarter last year, the business earned ($0.34) earnings per share. The company’s quarterly revenue was up 56.5% on a year-over-year basis. Analysts anticipate that Zscaler, Inc. will post -1.81 earnings per share for the current fiscal year.

In related news, major shareholder Ajay Mangal sold 150,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The shares were sold at an average price of $272.63, for a total value of $40,894,500.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Schlossman sold 28,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 21st. The shares were sold at an average price of $272.46, for a total transaction of $7,628,880.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 361,329 shares of company stock worth $96,981,701. Insiders own 21.40% of the company’s stock.

Several hedge funds have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. bought a new position in shares of Zscaler in the first quarter worth approximately $149,000. Mercer Global Advisors Inc. ADV bought a new position in shares of Zscaler in the first quarter worth approximately $599,000. Panagora Asset Management Inc. grew its holdings in shares of Zscaler by 280.9% in the first quarter. Panagora Asset Management Inc. now owns 14,926 shares of the company’s stock worth $2,562,000 after purchasing an additional 11,007 shares during the last quarter. Quilter Plc bought a new position in shares of Zscaler in the first quarter worth approximately $237,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Zscaler by 21.6% in the first quarter. Quadrant Capital Group LLC now owns 349 shares of the company’s stock worth $60,000 after purchasing an additional 62 shares during the last quarter. 43.78% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Company Profile (NASDAQ:ZS)

Zscaler, Inc engages in the provision of cloud-based internet security platform. It provides integrated and comprehensive solutions to customers using cloud platform, the Zscaler Zero Trust Exchange. The firm offers Zcaler internet access, private access, digital experience, and cloud protection. The company was founded by Jagtar Singh Chaudhry and K.

Recommended Story: Example of operating income, EBIT and EBITDA

Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.