Zscaler (NASDAQ:ZS) Coverage Initiated by Analysts at BNP Paribas

BNP Paribas initiated coverage on shares of Zscaler (NASDAQ:ZS) in a research note released on Tuesday, Marketbeat.com reports. The brokerage issued a neutral rating and a $180.00 price target on the stock.

A number of other brokerages have also issued reports on ZS. Susquehanna reaffirmed a positive rating and set a $210.00 price objective on shares of Zscaler in a report on Thursday, September 5th. Stifel Nicolaus reiterated a buy rating and issued a $220.00 price target on shares of Zscaler in a report on Wednesday, September 4th. Cantor Fitzgerald decreased their price target on shares of Zscaler from $200.00 to $170.00 and set a neutral rating on the stock in a research note on Wednesday, September 4th. Morgan Stanley raised their price objective on Zscaler from $202.00 to $215.00 and gave the company an equal weight rating in a research report on Monday, August 26th. Finally, Piper Sandler decreased their target price on Zscaler from $255.00 to $215.00 and set an overweight rating on the stock in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $216.97.

Zscaler Trading Up 1.4 %

Shares of ZS stock opened at $198.26 on Tuesday. The company’s fifty day moving average price is $178.40 and its 200-day moving average price is $180.79. The stock has a market cap of $30.23 billion, a PE ratio of -495.64 and a beta of 0.82. Zscaler has a 12 month low of $152.60 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. During the same quarter in the previous year, the firm earned ($0.17) EPS. Zscaler’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, sell-side analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently modified their holdings of ZS. Quadrature Capital Ltd acquired a new position in shares of Zscaler during the 1st quarter valued at about $47,217,000. Vanguard Group Inc. grew its holdings in Zscaler by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 8,843,772 shares of the company’s stock valued at $1,959,426,000 after purchasing an additional 206,908 shares during the last quarter. GuoLine Advisory Pte Ltd bought a new position in shares of Zscaler in the third quarter valued at approximately $32,660,000. Jupiter Asset Management Ltd. bought a new stake in shares of Zscaler during the 1st quarter worth $27,954,000. Finally, Massachusetts Financial Services Co. MA acquired a new position in Zscaler in the 2nd quarter valued at $25,287,000. 46.45% of the stock is owned by institutional investors and hedge funds.

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.