Zscaler (NASDAQ:ZS) Given “Market Outperform” Rating at JMP Securities

Zscaler (NASDAQ:ZS)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $270.00 price objective on the stock. JMP Securities’ target price indicates a potential upside of 45.95% from the stock’s current price.

ZS has been the subject of several other research reports. Wedbush cut their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Loop Capital lowered their price target on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Susquehanna reiterated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. Finally, Raymond James began coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating on the stock. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $216.73.

Zscaler Trading Up 1.3 %

NASDAQ:ZS traded up $2.41 during trading hours on Monday, hitting $185.00. 376,504 shares of the stock were exchanged, compared to its average volume of 2,045,746. The firm’s fifty day moving average price is $179.63 and its 200 day moving average price is $180.90. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The company has a market cap of $28.21 billion, a P/E ratio of -462.49 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) EPS. Equities analysts expect that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares of the company’s stock, valued at $4,510,408.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through 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 transaction of $260,739.50. Following the transaction, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last three months. 19.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently modified their holdings of the company. State Board of Administration of Florida Retirement System raised its stake in Zscaler by 6.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after purchasing an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock valued at $22,478,000 after acquiring an additional 9,689 shares during the period. Norden Group LLC acquired a new stake in Zscaler during the first quarter worth about $846,000. DekaBank Deutsche Girozentrale lifted its stake in shares of Zscaler by 7.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Finally, Creative Planning grew its holdings in shares of Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

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.