Zscaler (NASDAQ:ZS) Stock Price Up 6.2% - What's Next?

Zscaler, Inc. (NASDAQ:ZS - Get Free Report)'s share price rose 6.2% during mid-day trading on Tuesday . The stock traded as high as $199.85 and last traded at $203.06. Approximately 312,857 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 1,361,460 shares. The stock had previously closed at $191.24.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an "overweight" rating in a report on Tuesday, December 3rd. Morgan Stanley decreased their price objective on shares of Zscaler from $215.00 to $205.00 and set an "equal weight" rating for the company in a report on Tuesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Zscaler from $220.00 to $240.00 and gave the company an "overweight" rating in a report on Friday, November 29th. Susquehanna boosted their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a "positive" rating in a report on Tuesday, December 3rd. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Zscaler in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.47.

Zscaler Trading Up 6.5 %

The company has a market cap of $31.26 billion, a PE ratio of -813.60 and a beta of 0.87. The company's 50 day moving average is $194.81 and its 200 day moving average is $187.69.

Zscaler (NASDAQ:ZS - Get Free Report) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $628.00 million for the quarter, compared to analysts' expectations of $605.51 million. During the same period in the prior year, the business earned ($0.18) EPS. The firm's quarterly revenue was up 26.4% on a year-over-year basis. Analysts expect that Zscaler, Inc. will post -0.16 EPS for the current year.

Insider Activity

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the firm's 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 of the company's stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Syam Nair sold 3,682 shares of the firm'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 transaction, the insider now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently made changes to their positions in ZS. Dimensional Fund Advisors LP increased its holdings in shares of Zscaler by 13.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 160,828 shares of the company's stock valued at $30,908,000 after purchasing an additional 18,758 shares in the last quarter. MBB Public Markets I LLC acquired a new position in Zscaler during the second quarter worth $1,200,000. The Manufacturers Life Insurance Company lifted its holdings in Zscaler by 7.8% during the second quarter. The Manufacturers Life Insurance Company now owns 6,388 shares of the company's stock valued at $1,228,000 after purchasing an additional 464 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Zscaler during the 2nd quarter worth about $1,426,000. Finally, Creative Planning boosted its holdings in Zscaler by 11.3% in the 2nd quarter. Creative Planning now owns 137,983 shares of the company's stock worth $26,519,000 after buying an additional 13,978 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.

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.

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