Zscaler (NASDAQ:ZS) Upgraded to “Overweight” by KeyCorp

Zscaler (NASDAQ:ZS) was upgraded by investment analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat Ratings reports. The brokerage presently has a $220.00 price objective on the stock. KeyCorp’s target price would indicate a potential upside of 27.20% from the company’s current price.

A number of other analysts also recently issued reports on the stock. Truist Financial reissued a “buy” rating and issued a $260.00 price objective on shares of Zscaler in a report on Monday, April 1st. Barclays dropped their target price on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a research report on Friday, March 1st. Needham & Company LLC restated a “strong-buy” rating and issued a $290.00 target price on shares of Zscaler in a research report on Friday, March 1st. JMP Securities reiterated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research report on Friday, March 1st. Finally, Rosenblatt Securities upped their price objective on shares of Zscaler from $285.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Five investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.24.

Zscaler Price Performance

Shares of ZS stock opened at $172.96 on Thursday. The firm’s 50 day moving average price is $209.32 and its two-hundred day moving average price is $202.81. The stock has a market cap of $25.92 billion, a PE ratio of -182.06 and a beta of 0.80. Zscaler has a 52-week low of $84.93 and a 52-week high of $259.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. As a group, analysts forecast that Zscaler will post -0.81 EPS for the current year.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Remo Canessa sold 7,707 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $1,488,607.05. Following the completion of the transaction, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,715 shares of company stock valued at $5,865,882. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ZS. Aviance Capital Partners LLC purchased a new stake in Zscaler during the 1st quarter valued at about $1,348,000. Deltec Asset Management LLC purchased a new stake in shares of Zscaler during the 1st quarter valued at about $2,678,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Zscaler by 109.1% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 3,455 shares of the company’s stock valued at $666,000 after acquiring an additional 1,803 shares during the last quarter. KRS Capital Management LLC boosted its holdings in shares of Zscaler by 45.2% during the 1st quarter. KRS Capital Management LLC now owns 3,151 shares of the company’s stock valued at $607,000 after acquiring an additional 981 shares during the last quarter. Finally, Norway Savings Bank boosted its holdings in shares of Zscaler by 33.7% during the 1st quarter. Norway Savings Bank now owns 3,770 shares of the company’s stock valued at $726,000 after acquiring an additional 950 shares during the last quarter. 46.45% of the stock is currently owned by 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.