Zscaler (NASDAQ:ZS) Upgraded at Rosenblatt Securities

Zscaler (NASDAQ:ZS) was upgraded by equities researchers at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Briefing.com Automated Import reports. The brokerage currently has a $235.00 target price on the stock. Rosenblatt Securities’ price objective points to a potential upside of 19.62% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. KeyCorp upped their target price on Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Barclays restated an “overweight” rating on shares of Zscaler in a research note on Wednesday. Royal Bank of Canada restated an “outperform” rating and set a $230.00 target price on shares of Zscaler in a research note on Tuesday, December 3rd. BTIG Research upped their target price on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Finally, Citigroup restated a “buy” rating on shares of Zscaler in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.39.

Zscaler Stock Up 1.4 %

Shares of NASDAQ ZS opened at $196.45 on Thursday. The business’s 50 day moving average price is $195.83 and its two-hundred day moving average price is $191.54. The company has a market cap of $30.14 billion, a PE ratio of -785.80 and a beta of 0.89. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) earnings per share. As a group, research analysts anticipate that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Hedge funds have recently made changes to their positions in the stock. Global X Japan Co. Ltd. lifted its holdings in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Summit Securities Group LLC bought a new stake in Zscaler in the fourth quarter worth $27,000. Colonial Trust Co SC bought a new stake in Zscaler in the fourth quarter worth $28,000. Stonebridge Financial Group LLC bought a new stake in Zscaler in the fourth quarter worth $29,000. Finally, Elequin Capital LP bought a new stake in Zscaler in the fourth quarter worth $30,000. 46.45% of the stock is owned by institutional investors.

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.