Cantor Fitzgerald Upgrades Zscaler (NASDAQ:ZS) to Hold

Zscaler (NASDAQ:ZS - Get Free Report) was upgraded by stock analysts at Cantor Fitzgerald to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other analysts have also recently issued reports on ZS. BMO Capital Markets reduced their target price on shares of Zscaler from $208.00 to $197.00 and set an "outperform" rating for the company in a research note on Wednesday, September 4th. Bank of America lowered shares of Zscaler from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Piper Sandler cut their target price on Zscaler from $255.00 to $215.00 and set an "overweight" rating on the stock in a report on Wednesday, September 4th. Susquehanna reiterated a "positive" rating and set a $210.00 price target on shares of Zscaler in a research note on Thursday, September 5th. Finally, Oppenheimer reduced their target price on Zscaler from $260.00 to $230.00 and set an "outperform" rating for the company in a report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Zscaler presently has a consensus rating of "Moderate Buy" and a consensus price target of $217.18.

Zscaler Stock Performance

ZS traded down $3.42 during trading on Monday, reaching $200.94. The company had a trading volume of 1,211,662 shares, compared to its average volume of 2,020,163. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The company has a market cap of $30.64 billion, a price-to-earnings ratio of -502.34 and a beta of 0.82. The firm's 50-day simple moving average is $184.86 and its 200 day simple moving average is $183.16.

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

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares of the company's stock, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company's stock worth $277,327,000 after purchasing an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC lifted its stake in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company's stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company's stock valued at $95,335,000 after acquiring an additional 25,181 shares during the period. Westfield Capital Management Co. LP increased its stake in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company's stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company's stock valued at $75,857,000 after purchasing an additional 61,037 shares during the period. 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.