Zscaler (NASDAQ:ZS) Shares Up 0.9%

Shares of Zscaler, Inc. (NASDAQ:ZS) traded up 0.9% during trading on Thursday . The stock traded as high as $200.36 and last traded at $198.40. 855,352 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 2,341,165 shares. The stock had previously closed at $196.66.

Analysts Set New Price Targets

ZS has been the subject of several recent analyst reports. BTIG Research decreased their price objective on shares of Zscaler from $258.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Robert W. Baird decreased their price objective on shares of Zscaler from $265.00 to $260.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. KeyCorp raised shares of Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 price objective for the company in a research report on Thursday, April 18th. Sanford C. Bernstein decreased their price objective on shares of Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Finally, Needham & Company LLC reaffirmed a “strong-buy” rating and set a $290.00 price objective on shares of Zscaler in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.21.

Zscaler Trading Up 0.9 %

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 business’s 50 day moving average price is $178.25 and its 200-day moving average price is $202.29. The firm has a market capitalization of $29.99 billion, a price-to-earnings ratio of -389.02 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The business had revenue of $553.20 million for the quarter, compared to analyst estimates of $535.55 million. Equities analysts forecast that Zscaler, Inc. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were 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 in the company, valued at $45,497,924.31. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Spire Wealth Management grew its position in Zscaler by 24.5% during the fourth quarter. Spire Wealth Management now owns 249 shares of the company’s stock worth $58,000 after buying an additional 49 shares during the period. US Bancorp DE grew its position in Zscaler by 0.3% during the fourth quarter. US Bancorp DE now owns 22,944 shares of the company’s stock worth $5,083,000 after buying an additional 59 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Zscaler by 1.7% in the third quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $585,000 after purchasing an additional 63 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Zscaler by 3.4% in the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock valued at $393,000 after purchasing an additional 67 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after purchasing an additional 67 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.