Zscaler’s (ZS) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a research report released on Wednesday, Benzinga reports. They currently have a $270.00 target price on the stock.

Other analysts also recently issued research reports about the company. Bank of America downgraded Zscaler from a buy rating to a neutral rating and dropped their price objective for the stock from $265.00 to $195.00 in a research note on Wednesday. UBS Group lowered their target price on Zscaler from $270.00 to $250.00 and set a buy rating for the company in a report on Wednesday. BTIG Research lowered their target price on Zscaler from $220.00 to $205.00 and set a buy rating for the company in a report on Wednesday. Morgan Stanley increased their target price on Zscaler from $202.00 to $215.00 and gave the stock an equal weight rating in a report on Monday, August 26th. Finally, Rosenblatt Securities reiterated a neutral rating and set a $190.00 target price on shares of Zscaler in a report on Tuesday, May 28th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $218.39.

Zscaler Stock Performance

ZS stock opened at $156.78 on Wednesday. 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 company has a 50 day moving average price of $187.65 and a 200 day moving average price of $187.65. Zscaler has a fifty-two week low of $146.59 and a fifty-two week high of $259.61. The stock 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 quarterly 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. The company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) EPS. Analysts forecast that Zscaler will post -0.38 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the completion of the transaction, the chief financial officer now directly owns 243,486 shares in the company, valued at $43,148,154.06. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Zscaler by 1.3% in the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after purchasing an additional 118,002 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Zscaler in the fourth quarter worth $217,683,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Zscaler by 19.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock worth $119,294,000 after purchasing an additional 102,616 shares during the last quarter. Norges Bank bought a new stake in shares of Zscaler in the fourth quarter worth $117,599,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after purchasing an additional 25,181 shares during the last quarter. 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.