Shares of Zscaler Inc (NASDAQ:ZS) have received a consensus recommendation of “Hold” from the twelve research firms that are covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.86.
A number of equities analysts recently commented on ZS shares. Zacks Investment Research raised Zscaler from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research note on Wednesday, June 13th. Morgan Stanley lifted their price objective on Zscaler from $31.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 6th. BTIG Research lowered Zscaler from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Monday, September 10th. They noted that the move was a valuation call. Credit Suisse Group lifted their price objective on Zscaler from $38.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, September 6th. Finally, Needham & Company LLC lifted their price objective on Zscaler from $45.00 to $47.50 and gave the stock a “strong-buy” rating in a research note on Thursday, September 6th.
Shares of ZS stock traded down $0.77 during mid-day trading on Tuesday, reaching $37.04. 1,484,137 shares of the stock traded hands, compared to its average volume of 1,407,909. Zscaler has a 1-year low of $24.76 and a 1-year high of $48.24. The firm has a market capitalization of $4.88 billion and a price-to-earnings ratio of -119.48.
Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Wednesday, September 5th. The company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.04. The company had revenue of $56.20 million during the quarter, compared to analyst estimates of $50.72 million. Zscaler’s revenue was up 53.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, analysts forecast that Zscaler will post -0.27 EPS for the current year.
In other Zscaler news, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $42.12, for a total value of $202,470.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Manoj Apte sold 107,544 shares of Zscaler stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $41.88, for a total value of $4,503,942.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 201,772 shares of company stock valued at $8,361,261.
A number of hedge funds have recently modified their holdings of the business. Optimum Investment Advisors increased its holdings in Zscaler by 240.0% in the third quarter. Optimum Investment Advisors now owns 3,400 shares of the company’s stock worth $139,000 after purchasing an additional 2,400 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Zscaler during the first quarter valued at approximately $114,000. Atlantic Trust Group LLC bought a new stake in shares of Zscaler during the first quarter valued at approximately $136,000. Stevens Capital Management LP bought a new stake in shares of Zscaler during the second quarter valued at approximately $211,000. Finally, Raymond James & Associates bought a new stake in shares of Zscaler during the second quarter valued at approximately $255,000. Institutional investors and hedge funds own 23.02% of the company’s stock.
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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