Zscaler’s (ZS) “Market Outperform” Rating Reaffirmed at JMP Securities

Zscaler (NASDAQ:ZS)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report issued on Tuesday,Benzinga reports. They currently have a $240.00 price target on the stock, down from their prior price target of $270.00. JMP Securities’ price target indicates a potential upside of 22.95% from the company’s current price.

Several other equities research analysts have also issued reports on the company. Stifel Nicolaus raised their target price on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Canaccord Genuity Group raised their price objective on Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Tuesday. BTIG Research lifted their price target on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $190.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $222.66.

Zscaler Stock Performance

Shares of Zscaler stock traded down $13.31 during trading hours on Tuesday, reaching $195.20. The company’s stock had a trading volume of 344,244 shares, compared to its average volume of 2,016,214. The stock has a market cap of $29.95 billion, a P/E ratio of -487.99 and a beta of 0.82. The company’s 50 day simple moving average is $190.12 and its 200 day simple moving average is $184.80. Zscaler has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) EPS. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts predict that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors have recently bought and sold shares of the company. Quest Partners LLC purchased a new stake in Zscaler during the second quarter worth $28,000. Prestige Wealth Management Group LLC acquired a new position in shares of Zscaler during the third quarter worth about $31,000. True Wealth Design LLC lifted its holdings in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Asset Dedication LLC raised its stake in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in Zscaler during the 3rd quarter valued at $38,000. 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.