Rosenblatt Securities Reaffirms “Neutral” Rating for Zscaler (NASDAQ:ZS)

Rosenblatt Securities reaffirmed their neutral rating on shares of Zscaler (NASDAQ:ZS) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $190.00 target price on the stock.

A number of other research analysts also recently weighed in on the stock. Barclays lowered their price objective on shares of Zscaler from $230.00 to $200.00 and set an overweight rating on the stock in a research report on Wednesday. Citigroup lowered their price objective on shares of Zscaler from $270.00 to $240.00 and set a buy rating on the stock in a research report on Wednesday, June 5th. Mizuho downgraded shares of Zscaler from an outperform rating to a neutral rating and set a $220.00 price target on the stock. in a research report on Tuesday, July 16th. JPMorgan Chase & Co. decreased their price target on shares of Zscaler from $230.00 to $220.00 and set an overweight rating on the stock in a research report on Wednesday. Finally, Susquehanna decreased their price target on shares of Zscaler from $275.00 to $210.00 and set a positive rating on the stock in a research report on Friday, May 31st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $218.39.

Zscaler Price Performance

Shares of ZS opened at $156.78 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.75 and a current ratio of 1.75. The firm’s 50-day simple moving average is $187.65 and its two-hundred day simple moving average is $187.65. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The stock has a market cap of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. Zscaler’s quarterly revenue was up 30.3% compared to the same quarter last year. Analysts anticipate that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Remo Canessa sold 7,981 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC acquired a new stake in shares of Zscaler in the second quarter valued at about $1,328,000. Truist Financial Corp raised its position in shares of Zscaler by 137.3% in the second quarter. Truist Financial Corp now owns 2,572 shares of the company’s stock valued at $494,000 after buying an additional 1,488 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Zscaler by 166.2% in the second quarter. B. Riley Wealth Advisors Inc. now owns 10,012 shares of the company’s stock valued at $1,924,000 after buying an additional 6,251 shares during the last quarter. Quarry LP raised its position in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock valued at $74,000 after buying an additional 331 shares during the last quarter. Finally, Capital Impact Advisors LLC acquired a new stake in Zscaler during the second quarter worth about $866,000. 46.45% of the stock is owned by hedge funds and other 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.