Zscaler (NASDAQ:ZS) Earns “Market Outperform” Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a research note released on Wednesday, Benzinga reports. They currently have a $270.00 price target on the stock.

A number of other analysts have also recently commented on ZS. BMO Capital Markets cut their target price on Zscaler from $208.00 to $197.00 and set an outperform rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upgraded Zscaler from a neutral rating to an overweight rating and boosted their price objective for the company from $205.00 to $230.00 in a research note on Friday, June 14th. Canaccord Genuity Group lowered their target price on shares of Zscaler from $260.00 to $220.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. Wedbush reduced their price target on shares of Zscaler from $260.00 to $220.00 and set an outperform rating for the company in a research report on Wednesday. Finally, Bank of America cut shares of Zscaler from a buy rating to a neutral rating and decreased their price target for the stock from $265.00 to $195.00 in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $217.41.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $157.13 on Wednesday. The stock’s 50-day simple moving average is $188.90 and its 200-day simple moving average is $188.50. The firm has a market capitalization of $23.75 billion, a PE ratio of -308.10 and a beta of 0.85. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) earnings per share. As a group, equities research analysts forecast that Zscaler will post -0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Zscaler in the 4th quarter valued at about $217,683,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 valued at $119,294,000 after acquiring an additional 102,616 shares during the last quarter. Norges Bank purchased a new position in shares of Zscaler during the 4th quarter worth about $117,599,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.