Zscaler (NASDAQ:ZS) Earns Neutral Rating from Rosenblatt Securities

Zscaler (NASDAQ:ZS - Get Free Report)'s stock had its "neutral" rating reaffirmed by Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $190.00 price objective on the stock. Rosenblatt Securities' target price would indicate a potential downside of 1.97% from the stock's current price.

Several other brokerages have also recently issued reports on ZS. Needham & Company LLC reaffirmed a "buy" rating and issued a $240.00 price objective on shares of Zscaler in a research note on Friday, January 10th. Scotiabank lifted their price target on shares of Zscaler from $205.00 to $225.00 and gave the stock a "sector outperform" rating in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Zscaler from $220.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, November 29th. Morgan Stanley decreased their target price on Zscaler from $215.00 to $205.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 3rd. Finally, Mizuho lifted their price target on Zscaler from $210.00 to $225.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $226.94.

Zscaler Stock Performance

Shares of ZS stock opened at $193.82 on Wednesday. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The business's fifty day moving average is $195.83 and its 200-day moving average is $191.54. The stock has a market cap of $29.74 billion, a PE ratio of -775.28 and a beta of 0.89.

Zscaler (NASDAQ:ZS - Get Free Report) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the company earned ($0.18) earnings per share. Zscaler's revenue was up 26.4% compared to the same quarter last year. Equities research analysts predict that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In other Zscaler news, insider Syam Nair sold 3,682 shares of the company's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the sale, the insider now owns 142,866 shares of the company's stock, valued at $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ZS. Fred Alger Management LLC increased its holdings in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company's stock worth $1,773,000 after purchasing an additional 9,542 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company's stock valued at $65,036,000 after acquiring an additional 37,801 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Zscaler by 29.8% in the 4th quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company's stock worth $14,061,000 after acquiring an additional 17,900 shares during the period. Baader Bank Aktiengesellschaft grew its holdings in shares of Zscaler by 30.3% during the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,400 shares of the company's stock worth $1,515,000 after purchasing an additional 1,952 shares in the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company's stock valued at $2,728,000 after purchasing an additional 14,274 shares during the period. 46.45% of the stock is owned by institutional investors.

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.

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