Zscaler, Inc. (NASDAQ:ZS - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Stock investors acquired 34,129 call options on the stock. This is an increase of approximately 62% compared to the typical daily volume of 21,048 call options.
Wall Street Analysts Forecast Growth
ZS has been the topic of a number of recent research reports. JPMorgan Chase & Co. upgraded shares of Zscaler from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $205.00 to $230.00 in a research note on Friday, June 14th. Stifel Nicolaus cut their price objective on Zscaler from $270.00 to $220.00 and set a "buy" rating for the company in a report on Thursday, May 16th. The Goldman Sachs Group lifted their price objective on Zscaler from $189.00 to $215.00 and gave the company a "neutral" rating in a report on Monday, March 4th. BMO Capital Markets reissued an "outperform" rating and set a $208.00 price objective on shares of Zscaler in a report on Friday, June 14th. Finally, Truist Financial reissued a "buy" rating and set a $260.00 price objective on shares of Zscaler in a report on Monday, April 1st. Six analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $225.21.
View Our Latest Stock Report on Zscaler
Zscaler Stock Up 5.7 %
NASDAQ ZS traded up $10.28 during trading on Thursday, hitting $189.20. The stock had a trading volume of 3,163,224 shares, compared to its average volume of 2,259,849. The company has a market capitalization of $28.60 billion, a PE ratio of -369.63 and a beta of 0.85. The company's 50-day moving average price is $176.10 and its two-hundred day moving average price is $202.96. 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 has a 12 month low of $131.59 and a 12 month high of $259.61.
Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of ($0.24) by $0.39. The firm had revenue of $553.20 million for the quarter, compared to analysts' expectations of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. As a group, sell-side analysts forecast that Zscaler will post -0.34 EPS for the current year.
Insider Activity at Zscaler
In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the transaction, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 19.20% of the company's stock.
Institutional Investors Weigh In On Zscaler
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Spire Wealth Management raised its stake in Zscaler by 24.5% in the 4th quarter. Spire Wealth Management now owns 249 shares of the company's stock valued at $58,000 after acquiring an additional 49 shares during the period. US Bancorp DE raised its stake in Zscaler by 0.3% in the 4th quarter. US Bancorp DE now owns 22,944 shares of the company's stock valued at $5,083,000 after acquiring an additional 59 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in Zscaler by 1.7% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company's stock valued at $585,000 after acquiring an additional 63 shares during the period. Kovack Advisors Inc. raised its stake in Zscaler by 3.4% in the 1st quarter. Kovack Advisors Inc. now owns 2,042 shares of the company's stock valued at $393,000 after acquiring an additional 67 shares during the period. Finally, Lindbrook Capital LLC raised its stake in Zscaler by 41.1% in the 4th quarter. Lindbrook Capital LLC now owns 237 shares of the company's stock valued at $53,000 after acquiring an additional 69 shares during the period. Institutional investors own 46.45% of the company's stock.
About Zscaler
(
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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.
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