Zscaler (NASDAQ:ZS) Upgraded to “Hold” at Cantor Fitzgerald

Zscaler (NASDAQ:ZS) was upgraded by equities researchers at Cantor Fitzgerald to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

A number of other brokerages have also issued reports on ZS. Robert W. Baird cut their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Oppenheimer dropped their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. BMO Capital Markets lowered their target price on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Piper Sandler reduced their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, UBS Group reduced their target price on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $217.18.

Zscaler Stock Performance

NASDAQ:ZS opened at $204.36 on Monday. The firm has a market cap of $31.16 billion, a P/E ratio of -510.89 and a beta of 0.82. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm has a 50-day simple moving average of $184.08 and a two-hundred day simple moving average of $183.03.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm 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 3.46% and a negative net margin of 2.66%. The company’s quarterly revenue was up 30.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.17) earnings per share. On average, equities research analysts predict that Zscaler will post -0.95 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. Insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale boosted its position in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after acquiring an additional 14,701 shares during the last quarter. Creative Planning boosted its stake in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Zscaler in the 2nd quarter valued at $25,287,000. Strategic Advisors LLC increased its position in Zscaler by 470.0% during the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after purchasing an additional 6,712 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after purchasing an additional 14,274 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.