Zscaler (NASDAQ:ZS) Receives Market Outperform Rating from JMP Securities

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities research analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They currently have a $270.00 target price on the stock. JMP Securities' target price would indicate a potential upside of 46.02% from the stock's previous close.

Several other brokerages have also commented on ZS. BTIG Research dropped their price objective on Zscaler from $220.00 to $205.00 and set a "buy" rating on the stock in a report on Wednesday, September 4th. Scotiabank dropped their price target on shares of Zscaler from $210.00 to $195.00 and set a "sector outperform" rating on the stock in a research note on Wednesday, September 4th. Bank of America cut Zscaler from a "buy" rating to a "neutral" rating and reduced their target price for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Citigroup reduced their price objective on Zscaler from $240.00 to $230.00 and set a "buy" rating for the company in a research note on Friday, October 4th. Finally, Susquehanna reaffirmed a "positive" rating and set a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Ten analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Zscaler has an average rating of "Moderate Buy" and a consensus target price of $216.73.

Zscaler Price Performance

ZS traded up $2.31 during trading on Monday, reaching $184.90. 830,887 shares of the company's stock were exchanged, compared to its average volume of 2,047,999. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61. The company's fifty day simple moving average is $179.63 and its 200-day simple moving average is $180.95. The stock has a market capitalization of $28.20 billion, a P/E ratio of -462.24 and a beta of 0.82.

Zscaler (NASDAQ:ZS - Get Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.14) by $0.09. The business had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The company's revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) EPS. Equities analysts forecast that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the company's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert Schlossman sold 4,947 shares of the company's stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last ninety days. 19.20% of the stock is 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 business. Vanguard Group Inc. lifted its position in shares of Zscaler by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company's stock valued at $1,726,307,000 after acquiring an additional 118,002 shares during the period. Bank of New York Mellon Corp grew its holdings in Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company's stock valued at $95,335,000 after purchasing an additional 25,181 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company's stock valued at $75,857,000 after buying an additional 61,037 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of Zscaler by 0.9% during the 1st quarter. Acadian Asset Management LLC now owns 336,197 shares of the company's stock worth $64,744,000 after buying an additional 2,937 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of Zscaler by 14.4% in the 2nd quarter. Ensign Peak Advisors Inc now owns 295,525 shares of the company's stock worth $56,797,000 after buying an additional 37,137 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company's stock.

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.