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

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-three brokerages that are currently covering the company, Marketbeat.com reports. Six equities research 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 12-month target price among analysts that have updated their coverage on the stock in the last year is $230.55.

A number of equities analysts recently weighed in on ZS shares. Truist Financial reissued a “buy” rating and issued a $260.00 price target on shares of Zscaler in a report on Monday, April 1st. Sanford C. Bernstein decreased their price target on shares of Zscaler from $311.00 to $280.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Oppenheimer upped their price objective on Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, January 3rd. Citigroup raised their target price on Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $290.00 price target on shares of Zscaler in a research report on Friday, March 1st.

Zscaler Stock Down 0.8 %

ZS opened at $172.96 on Thursday. Zscaler has a fifty-two week low of $84.93 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The company’s 50-day moving average is $209.32 and its 200 day moving average is $202.81. The firm has a market capitalization of $25.92 billion, a P/E ratio of -182.06 and a beta of 0.80.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.24) by $0.08. The company had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. Research analysts expect that Zscaler will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of Zscaler stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Karen Blasing sold 7,000 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $236.24, for a total transaction of $1,653,680.00. Following the completion of the sale, the director now owns 39,539 shares of the company’s stock, valued at $9,340,693.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now 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 a total of 26,715 shares of company stock valued at $5,865,882 over the last 90 days. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. 1832 Asset Management L.P. purchased a new stake in Zscaler in the fourth quarter worth $217,683,000. Renaissance Technologies LLC purchased a new stake in shares of Zscaler in the 1st quarter worth about $168,365,000. Norges Bank purchased a new stake in shares of Zscaler in the 4th quarter worth about $59,634,000. Polar Capital Holdings Plc bought a new stake in shares of Zscaler during the 3rd quarter valued at about $61,681,000. Finally, Trivest Advisors Ltd bought a new position in shares of Zscaler in the 4th quarter worth approximately $72,051,000. Institutional investors own 46.45% of the company’s stock.

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.