Zscaler (NASDAQ:ZS)‘s stock had its “outperform” rating reaffirmed by research analysts at Credit Suisse Group in a research note issued on Wednesday, The Fly reports. They presently have a $70.00 target price on the stock, down from their prior target price of $78.00. Credit Suisse Group’s price objective would indicate a potential upside of 41.16% from the company’s current price.
A number of other analysts have also issued reports on the company. Morgan Stanley dropped their target price on Zscaler to $47.00 and set an “underweight” rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $89.00 target price (up from $65.00) on shares of Zscaler in a research report on Friday, May 31st. BMO Capital Markets dropped their target price on Zscaler from $100.00 to $60.00 and set a “market perform” rating on the stock in a research report on Wednesday. They noted that the move was a valuation call. Cowen dropped their target price on Zscaler from $85.00 to $70.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, UBS Group lifted their target price on Zscaler from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $67.50.
Shares of NASDAQ ZS opened at $49.59 on Wednesday. Zscaler has a 1 year low of $30.72 and a 1 year high of $89.54. The firm has a market cap of $7.79 billion, a price-to-earnings ratio of -159.97 and a beta of 1.29. The stock’s 50-day simple moving average is $76.08 and its 200-day simple moving average is $72.13.
Zscaler (NASDAQ:ZS) last announced its earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The business had revenue of $86.11 million for the quarter, compared to analyst estimates of $82.15 million. On average, research analysts expect that Zscaler will post -0.17 EPS for the current fiscal year.
In related news, insider Amit Sinha sold 4,807 shares of Zscaler stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $65.52, for a total value of $314,954.64. Following the completion of the transaction, the insider now directly owns 127,664 shares in the company, valued at $8,364,545.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Manoj Apte sold 95,544 shares of Zscaler stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $84.91, for a total value of $8,112,641.04. The disclosure for this sale can be found here. Insiders sold 189,774 shares of company stock valued at $15,730,959 over the last quarter. Insiders own 27.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Tortoise Index Solutions LLC acquired a new position in Zscaler in the first quarter valued at approximately $25,000. CSat Investment Advisory L.P. acquired a new position in Zscaler in the second quarter valued at approximately $25,000. Meadow Creek Investment Management LLC acquired a new position in Zscaler in the second quarter valued at approximately $32,000. Neuburgh Advisers LLC acquired a new position in Zscaler in the second quarter valued at approximately $44,000. Finally, Wealthcare Advisory Partners LLC boosted its stake in Zscaler by 211.1% in the first quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock valued at $50,000 after acquiring an additional 475 shares during the period. Institutional investors and hedge funds own 33.49% of the company’s stock.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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