Zscaler (NASDAQ:ZS) Stock Rating Reaffirmed by Stifel Nicolaus

Stifel Nicolaus reaffirmed their buy rating on shares of Zscaler (NASDAQ:ZS) in a research report released on Wednesday, Benzinga reports. The firm currently has a $220.00 price objective on the stock.

ZS has been the subject of several other reports. UBS Group dropped their target price on Zscaler from $300.00 to $270.00 and set a buy rating for the company in a research report on Wednesday, May 29th. Citigroup dropped their price objective on shares of Zscaler from $270.00 to $240.00 and set a buy rating for the company in a report on Wednesday, June 5th. Cantor Fitzgerald reduced their target price on shares of Zscaler from $200.00 to $170.00 and set a neutral rating on the stock in a report on Wednesday. Scotiabank dropped their price target on shares of Zscaler from $210.00 to $195.00 and set a sector outperform rating for the company in a research note on Wednesday. Finally, Loop Capital reduced their price objective on shares of Zscaler from $180.00 to $165.00 and set a hold rating on the stock in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $218.39.

Zscaler Stock Performance

Zscaler stock opened at $156.78 on Wednesday. The stock has a market cap of $23.70 billion, a PE ratio of -307.41 and a beta of 0.82. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. Zscaler has a 12-month low of $146.59 and a 12-month high of $259.61. The business’s 50-day moving average price is $187.65 and its two-hundred day moving average price is $187.23.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.75%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) EPS. As a group, analysts expect that Zscaler will post -0.38 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction dated Thursday, June 20th. The stock was 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 owns 243,486 shares in the company, valued at approximately $43,148,154.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 19.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently bought and sold shares of ZS. Van ECK Associates Corp boosted its holdings in Zscaler by 16.4% during the fourth quarter. Van ECK Associates Corp now owns 957 shares of the company’s stock worth $212,000 after purchasing an additional 135 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Zscaler by 2.7% during the 4th quarter. Victory Capital Management Inc. now owns 119,369 shares of the company’s stock worth $26,447,000 after buying an additional 3,119 shares in the last quarter. New York Life Investment Management LLC boosted its stake in shares of Zscaler by 12.8% in the 4th quarter. New York Life Investment Management LLC now owns 1,555 shares of the company’s stock worth $345,000 after buying an additional 176 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Zscaler by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 14,195 shares of the company’s stock valued at $3,145,000 after acquiring an additional 275 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Zscaler by 18.4% during the fourth quarter. Amalgamated Bank now owns 11,038 shares of the company’s stock valued at $2,446,000 after acquiring an additional 1,715 shares during the last quarter. 46.45% of the stock is 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.