Zscaler (NASDAQ:ZS) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a report published on Monday morning,Benzinga reports. JMP Securities currently has a $270.00 price target on the stock.

A number of other equities analysts have also weighed in on ZS. Raymond James initiated coverage on Zscaler in a research report on Tuesday, July 23rd. They issued a “market perform” rating for the company. JPMorgan Chase & Co. decreased their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. UBS Group cut their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Wells Fargo & Company decreased their price objective on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Finally, BTIG Research cut their target price on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Trading Up 1.9 %

ZS stock opened at $196.71 on Monday. The firm’s 50-day moving average is $179.14 and its two-hundred day moving average is $181.35. The company has a market capitalization of $30.00 billion, a price-to-earnings ratio of -491.76 and a beta of 0.82. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the firm earned ($0.17) EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts predict that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last quarter. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in ZS. International Assets Investment Management LLC raised its position in Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Zscaler in the first quarter valued at $47,217,000. GuoLine Advisory Pte Ltd bought a new position in shares of Zscaler in the third quarter valued at about $32,660,000. Jupiter Asset Management Ltd. acquired a new position in Zscaler during the 1st quarter worth about $27,954,000. Finally, Massachusetts Financial Services Co. MA bought a new stake in Zscaler during the 2nd quarter worth about $25,287,000. 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.