Zscaler (NASDAQ:ZS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Zscaler (NASDAQ:ZS) from a hold rating to a buy rating in a research note released on Sunday morning.

A number of other equities analysts have also recently weighed in on ZS. Evercore ISI raised their price objective on Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Truist Financial reaffirmed a “buy” rating and issued a $300.00 price target (up from $260.00) on shares of Zscaler in a research note on Friday, May 30th. Rosenblatt Securities lifted their price target on Zscaler from $235.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday, May 30th. FBN Securities raised Zscaler to a “strong-buy” rating in a research note on Friday, May 30th. Finally, BMO Capital Markets lifted their price target on Zscaler from $233.00 to $295.00 and gave the stock an “outperform” rating in a research note on Friday, May 30th. Nine analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $286.79.

Zscaler Stock Down 0.6%

NASDAQ:ZS opened at $297.97 on Friday. The business’s 50-day moving average price is $233.82 and its two-hundred day moving average price is $210.84. Zscaler has a twelve month low of $153.45 and a twelve month high of $306.78. The stock has a market cap of $46.39 billion, a P/E ratio of -1,191.88 and a beta of 1.09.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s revenue for the quarter was up 22.6% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts expect that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 20,333 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $296.72, for a total value of $6,033,207.76. Following the transaction, the director now owns 27,216 shares of the company’s stock, valued at approximately $8,075,531.52. This represents a 42.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 266,722 shares of company stock worth $57,583,648 over the last quarter. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Zscaler during the first quarter worth about $516,622,000. Nuveen LLC purchased a new stake in shares of Zscaler during the first quarter worth about $153,340,000. Goldman Sachs Group Inc. grew its position in shares of Zscaler by 23.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock worth $604,831,000 after purchasing an additional 578,883 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after purchasing an additional 525,956 shares in the last quarter. Finally, Natixis purchased a new stake in shares of Zscaler during the fourth quarter worth about $87,775,000. Institutional investors own 46.45% of the company’s stock.

Zscaler Company Profile

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.