Zscaler’s (ZS) Buy Rating Reaffirmed at Stifel Nicolaus

Stifel Nicolaus reissued their buy rating on shares of Zscaler (NASDAQ:ZS) in a research note issued to investors on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a $220.00 price target on the stock.

A number of other brokerages have also commented on ZS. JMP Securities reiterated a market outperform rating and set a $270.00 price target on shares of Zscaler in a report on Monday, June 17th. UBS Group dropped their price target on Zscaler from $300.00 to $270.00 and set a buy rating on the stock in a report on Wednesday, May 29th. Cantor Fitzgerald dropped their price target on Zscaler from $200.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday. Royal Bank of Canada reiterated an outperform rating and set a $230.00 price target on shares of Zscaler in a report on Wednesday. Finally, Sanford C. Bernstein dropped their price target on Zscaler from $280.00 to $270.00 and set an outperform rating on the stock in a 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $218.39.

Zscaler Stock Down 3.4 %

ZS stock opened at $156.78 on Wednesday. Zscaler has a twelve month low of $146.59 and a twelve month high of $259.61. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $187.65 and its 200-day moving average is $187.65. The firm has a market capitalization of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same quarter last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. Sell-side analysts expect that Zscaler will post -0.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Remo Canessa sold 4,689 shares of the business’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the transaction, the chief financial officer now directly owns 251,467 shares in the company, valued at $45,497,924.31. The transaction was disclosed in a document filed with the SEC, which is available through this link. 19.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC bought a new stake in Zscaler during the second quarter worth about $28,000. Jones Financial Companies Lllp bought a new stake in Zscaler during the fourth quarter worth about $29,000. Quadrant Capital Group LLC lifted its stake in Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the last quarter. Asset Dedication LLC lifted its stake in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. Finally, American Capital Advisory LLC bought a new stake in Zscaler during the second quarter worth about $50,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.