Rosenblatt Securities reaffirmed their hold rating on shares of Zscaler (NASDAQ:ZS) in a report released on Wednesday, AnalystRatings.com reports. They currently have a $50.00 price objective on the stock.
A number of other equities research analysts have also weighed in on the company. Needham & Company LLC restated a strong-buy rating and set a $89.00 price objective (up previously from $65.00) on shares of Zscaler in a research report on Friday, May 31st. UBS Group reduced their price objective on Zscaler from $70.00 to $53.00 and set a neutral rating on the stock in a research report on Thursday, September 12th. Bank of America set a $77.00 price objective on Zscaler and gave the stock a neutral rating in a research report on Friday, May 31st. ValuEngine lowered Zscaler from a buy rating to a hold rating in a research report on Thursday, August 1st. Finally, Morgan Stanley reduced their price objective on Zscaler to $47.00 and set an underweight rating on the stock in a research report on Wednesday, September 11th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $66.56.
Shares of ZS stock opened at $51.45 on Wednesday. The firm has a market capitalization of $6.47 billion, a P/E ratio of -428.75 and a beta of 1.29. Zscaler has a twelve month low of $30.72 and a twelve month high of $89.54. The stock’s fifty day simple moving average is $70.08 and its 200 day simple moving average is $71.99.
Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.06. The business had revenue of $86.11 million for the quarter, compared to analyst estimates of $82.15 million. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. On average, sell-side analysts anticipate that Zscaler will post -0.22 earnings per share for the current fiscal year.
In other news, Director Karen Blasing sold 1,000 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $47.02, for a total value of $47,020.00. Also, insider Manoj Apte sold 95,544 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $84.91, for a total value of $8,112,641.04. The disclosure for this sale can be found here. Insiders sold a total of 170,561 shares of company stock worth $14,152,448 in the last quarter. Corporate insiders own 27.40% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina acquired a new position in shares of Zscaler in the 2nd quarter valued at about $1,891,000. Mackenzie Financial Corp acquired a new position in shares of Zscaler in the 2nd quarter valued at about $943,000. Griffin Asset Management Inc. acquired a new position in shares of Zscaler in the 2nd quarter valued at about $115,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Zscaler in the 2nd quarter valued at about $85,000. Finally, Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Zscaler by 38.6% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 137,602 shares of the company’s stock valued at $10,546,000 after purchasing an additional 38,354 shares during the period. 33.45% of the stock is currently owned by institutional investors.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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