Zscaler (NASDAQ:ZS) Stock Price Up 1.3%

Shares of Zscaler, Inc. (NASDAQ:ZS) rose 1.3% during mid-day trading on Friday . The stock traded as high as $193.96 and last traded at $191.61. Approximately 737,750 shares changed hands during mid-day trading, a decline of 67% from the average daily volume of 2,247,601 shares. The stock had previously closed at $189.20.

Analysts Set New Price Targets

ZS has been the topic of several research reports. BTIG Research reduced their target price on Zscaler from $258.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Stifel Nicolaus reduced their price objective on Zscaler from $270.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Citigroup reduced their price objective on Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Truist Financial reissued a “buy” rating and set a $260.00 price objective on shares of Zscaler in a research note on Monday, April 1st. Finally, JMP Securities reissued a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Monday, June 17th. Six research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Stock Performance

The business has a fifty day simple moving average of $176.89 and a two-hundred day simple moving average of $202.71. 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 company has a market cap of $29.05 billion, a PE ratio of -376.84 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. The company 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%. Research analysts anticipate that Zscaler, Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the company’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently made changes to their positions in the business. 1832 Asset Management L.P. acquired a new position in shares of Zscaler in the 4th quarter valued at $217,683,000. Norges Bank acquired a new position in shares of Zscaler in the 4th quarter valued at $117,599,000. Polar Capital Holdings Plc acquired a new stake in Zscaler during the 3rd quarter worth about $61,681,000. Trivest Advisors Ltd acquired a new stake in Zscaler during the 4th quarter worth about $72,051,000. Finally, Quadrature Capital Ltd acquired a new stake in Zscaler during the 1st quarter worth about $47,217,000. 46.45% of the stock is 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.