Zscaler (NASDAQ:ZS) Given “Neutral” Rating at Guggenheim

Guggenheim reiterated their neutral rating on shares of Zscaler (NASDAQ:ZS) in a report published on Tuesday morning,Benzinga reports.

Several other brokerages have also recently commented on ZS. JPMorgan Chase & Co. raised their target price on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Stifel Nicolaus increased their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company dropped their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Jefferies Financial Group upped their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $195.00 in a report on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Stock Performance

Shares of ZS opened at $198.64 on Tuesday. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61. The company’s fifty day simple moving average is $190.79 and its 200 day simple moving average is $185.01.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The company’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.18) earnings per share. Equities analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This represents a 4.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

A number of large investors have recently made changes to their positions in ZS. DekaBank Deutsche Girozentrale grew its stake in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after acquiring an additional 14,701 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after purchasing an additional 9,542 shares in the last quarter. Creative Planning increased its holdings in shares of Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA purchased a new stake in shares of Zscaler in the second quarter worth $25,287,000. Finally, Strategic Advisors LLC boosted its stake in Zscaler by 470.0% during the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after buying an additional 6,712 shares during the period. 46.45% of the stock is owned by 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.