Zacks Investment Research upgraded shares of Zscaler (NASDAQ:ZS) from a sell rating to a hold rating in a report published on Wednesday, September 12th.
According to Zacks, “Zscaler Inc. operates as a cloud security company. It focuses on transforming networks and applications for a mobile and cloud-first. The company’s flagship services consist of Zscaler Internet Access and Zscaler Private Access engages on securing connections between users and applications, regardless of device, location or network. Zscaler Inc. is headquartered in San Jose, California. “
Several other research analysts also recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Zscaler from $26.00 to $31.00 and gave the stock an equal weight rating in a research report on Friday, June 8th. Barclays lifted their target price on shares of Zscaler from $30.00 to $36.00 and gave the stock an equal weight rating in a research report on Thursday, June 7th. Deutsche Bank lifted their target price on shares of Zscaler from $29.00 to $35.00 and gave the stock a hold rating in a research report on Thursday, June 7th. BTIG Research downgraded shares of Zscaler from a buy rating to a neutral rating and set a $33.00 target price on the stock. in a research report on Monday, September 10th. They noted that the move was a valuation call. Finally, UBS Group lifted their target price on shares of Zscaler from $30.00 to $36.00 and gave the stock a neutral rating in a research report on Thursday, June 7th. Nine research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $36.71.
Shares of ZS stock traded down $0.69 during midday trading on Wednesday, reaching $36.35. 1,166,700 shares of the company were exchanged, compared to its average volume of 1,406,211. Zscaler has a 12 month low of $24.76 and a 12 month high of $48.24. The company has a market capitalization of $4.88 billion and a price-to-earnings ratio of -118.77.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Wednesday, September 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The business had revenue of $56.20 million during the quarter, compared to analyst estimates of $50.72 million. The business’s revenue for the quarter was up 53.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) EPS. As a group, sell-side analysts anticipate that Zscaler will post -0.27 EPS for the current year.
In other news, EVP Amit Sinha sold 4,807 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $42.12, for a total value of $202,470.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Manoj Apte sold 107,544 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $41.88, for a total transaction of $4,503,942.72. The disclosure for this sale can be found here. Insiders sold 201,772 shares of company stock valued at $8,361,261 over the last 90 days.
A number of hedge funds have recently made changes to their positions in ZS. BlackRock Inc. bought a new position in Zscaler during the first quarter worth $114,000. Atlantic Trust Group LLC bought a new stake in Zscaler in the 1st quarter valued at $136,000. Optimum Investment Advisors increased its holdings in Zscaler by 240.0% in the 3rd quarter. Optimum Investment Advisors now owns 3,400 shares of the company’s stock valued at $139,000 after buying an additional 2,400 shares during the period. Point72 Asia Hong Kong Ltd bought a new stake in Zscaler in the 1st quarter valued at $209,000. Finally, Stevens Capital Management LP bought a new stake in Zscaler in the 2nd quarter valued at $211,000. 23.02% of the stock is currently owned by institutional investors and hedge funds.
Zscaler, Inc operates as a cloud security company worldwide. The company develops a software-as-a-service based security platform that secures access for users and devices to applications and services. It serves airline and transportation, conglomerate, consumer good and retail, financial service, healthcare, manufacturing, media and communication, public sector and education, technology, and telecommunications service industries.
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