Zscaler (NASDAQ:ZS) Earns Neutral Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their neutral rating on shares of Zscaler (NASDAQ:ZS) in a research note published on Wednesday, Benzinga reports. Cantor Fitzgerald currently has a $230.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. Robert W. Baird raised their price objective on Zscaler from $255.00 to $265.00 and gave the company an outperform rating in a report on Friday, March 1st. The Goldman Sachs Group raised their price target on Zscaler from $189.00 to $215.00 and gave the stock a neutral rating in a research report on Monday, March 4th. Truist Financial restated a buy rating and set a $260.00 price target on shares of Zscaler in a research report on Monday, April 1st. Rosenblatt Securities raised their price target on Zscaler from $285.00 to $290.00 and gave the stock a buy rating in a research report on Friday, March 1st. Finally, BMO Capital Markets cut their price objective on Zscaler from $268.00 to $255.00 and set an outperform rating on the stock in a research report on Friday, March 1st. Five equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Zscaler currently has a consensus rating of Moderate Buy and a consensus target price of $230.24.

Zscaler Trading Down 2.2 %

Shares of ZS opened at $169.21 on Wednesday. The business has a 50-day moving average of $206.08 and a 200 day moving average of $202.66. Zscaler has a fifty-two week low of $84.93 and a fifty-two week high of $259.61. The firm has a market cap of $25.36 billion, a P/E ratio of -178.12 and a beta of 0.80. 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 posted its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $525.00 million during the quarter, compared to analyst estimates of $507.56 million. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. As a group, research analysts forecast that Zscaler will post -0.81 EPS for the current year.

Insider Activity

In related news, insider Syam Nair sold 2,893 shares of Zscaler stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $558,782.95. Following the sale, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Syam Nair sold 2,893 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 $558,782.95. Following the transaction, the insider now directly owns 137,294 shares in the company, valued at approximately $26,518,336.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Remo Canessa sold 7,707 shares of Zscaler 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 $1,488,607.05. Following the sale, the chief financial officer now directly owns 255,943 shares in the company, valued at approximately $49,435,390.45. The disclosure for this sale can be found here. Insiders have sold 26,715 shares of company stock worth $5,865,882 in the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

A number of large investors have recently modified their holdings of the stock. Teamwork Financial Advisors LLC purchased a new stake in shares of Zscaler during the first quarter worth $1,267,000. Kovack Advisors Inc. grew its stake in shares of Zscaler by 3.4% during the first quarter. Kovack Advisors Inc. now owns 2,042 shares of the company’s stock worth $393,000 after purchasing an additional 67 shares in the last quarter. Norden Group LLC acquired a new position in shares of Zscaler during the first quarter worth $846,000. United Capital Management of KS Inc. grew its stake in shares of Zscaler by 8.7% during the first quarter. United Capital Management of KS Inc. now owns 26,528 shares of the company’s stock worth $5,110,000 after purchasing an additional 2,127 shares in the last quarter. Finally, Lake Street Private Wealth LLC acquired a new position in Zscaler in the first quarter valued at $777,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.