Zscaler (NASDAQ:ZS) Shares Up 4.6%

Shares of Zscaler, Inc. (NASDAQ:ZS - Get Free Report) were up 4.6% during mid-day trading on Thursday . The company traded as high as $187.21 and last traded at $187.21. Approximately 567,949 shares changed hands during trading, a decline of 75% from the average daily volume of 2,238,589 shares. The stock had previously closed at $178.92.

Analysts Set New Price Targets

ZS has been the subject of several research analyst reports. Citigroup dropped their price objective on Zscaler from $270.00 to $240.00 and set a "buy" rating for the company in a research note on Wednesday, June 5th. Mizuho dropped their price objective on Zscaler from $240.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 31st. Oppenheimer reaffirmed an "outperform" rating and issued a $260.00 price objective (down from $290.00) on shares of Zscaler in a research note on Friday, May 31st. Needham & Company LLC reaffirmed a "strong-buy" rating and issued a $290.00 price objective on shares of Zscaler in a research note on Friday, June 14th. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and issued a $190.00 price objective on shares of Zscaler in a research note on Tuesday, May 28th. Six investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Zscaler currently has an average rating of "Moderate Buy" and a consensus target price of $225.21.

Zscaler Stock Performance

The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The stock has a market capitalization of $28.60 billion, a P/E ratio of -370.98 and a beta of 0.85. The company has a fifty day moving average of $176.43 and a two-hundred day moving average of $202.86.

Zscaler (NASDAQ:ZS - Get Free Report) last announced its quarterly earnings data on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.39. The firm had revenue of $553.20 million during the quarter, compared to analyst estimates of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. On average, equities analysts anticipate that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the completion of the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new stake in Zscaler in the fourth quarter worth approximately $217,683,000. Norges Bank acquired a new stake in Zscaler in the fourth quarter worth approximately $117,599,000. Polar Capital Holdings Plc acquired a new stake in Zscaler in the third quarter worth approximately $61,681,000. Trivest Advisors Ltd acquired a new stake in Zscaler in the fourth quarter worth approximately $72,051,000. Finally, Quadrature Capital Ltd acquired a new stake in Zscaler in the first quarter worth approximately $47,217,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.