Zscaler, Inc. (NASDAQ:ZS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Zscaler, Inc. (NASDAQ:ZS - Get Free Report) has earned an average recommendation of "Moderate Buy" from the thirty-four brokerages that are covering the company, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $218.39.

Several equities research analysts recently commented on ZS shares. Mizuho cut Zscaler from an "outperform" rating to a "neutral" rating and set a $220.00 price objective on the stock. in a research report on Tuesday, July 16th. Robert W. Baird reduced their target price on shares of Zscaler from $260.00 to $225.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Cantor Fitzgerald dropped their price target on shares of Zscaler from $200.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 4th. Stifel Nicolaus restated a "buy" rating and issued a $220.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Finally, Canaccord Genuity Group lowered their price target on Zscaler from $260.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, June 4th.

Zscaler Stock Up 2.0 %

Shares of NASDAQ ZS traded up $3.35 during trading on Friday, reaching $170.06. The company had a trading volume of 1,992,238 shares, compared to its average volume of 2,381,753. The business's 50-day moving average is $184.05 and its 200 day moving average is $184.44. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock has a market cap of $25.70 billion, a PE ratio of -333.45 and a beta of 0.82. Zscaler has a 12-month low of $146.59 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.18. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same period last year, the business earned ($0.17) EPS. Zscaler's revenue was up 30.3% compared to the same quarter last year. As a group, equities analysts forecast that Zscaler will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company's stock, valued at $45,497,924.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. 19.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in shares of Zscaler during the second quarter worth $28,000. Jones Financial Companies Lllp purchased a new stake in Zscaler in the fourth quarter valued at about $29,000. Quadrant Capital Group LLC boosted its holdings in Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company's stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Asset Dedication LLC grew its stake in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company's stock worth $39,000 after acquiring an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC acquired a new position in shares of Zscaler during the second quarter valued at about $50,000. 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.