Zscaler, Inc. (NASDAQ:ZS – Get Free Report) gapped down before the market opened on Friday after Barclays lowered their price target on the stock from $259.00 to $240.00. The stock had previously closed at $241.97, but opened at $227.00. Barclays currently has an overweight rating on the stock. Zscaler shares last traded at $216.70, with a volume of 2,179,016 shares changing hands.
Other analysts have also issued reports about the stock. Needham & Company LLC reissued a “strong-buy” rating and issued a $290.00 price objective on shares of Zscaler in a research report on Friday. Citigroup increased their price objective on shares of Zscaler from $235.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. upped their target price on shares of Zscaler from $212.00 to $240.00 and gave the stock a “neutral” rating in a research note on Monday, February 26th. Evercore ISI upped their target price on shares of Zscaler from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 28th. Finally, Morgan Stanley upped their target price on shares of Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a research note on Monday, February 26th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.03.
Insider Buying and Selling
In related news, Director Andrew William Fraser Brown sold 5,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $221.75, for a total transaction of $1,108,750.00. Following the completion of the sale, the director now owns 24,931 shares in the company, valued at approximately $5,528,449.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Zscaler news, Director Andrew William Fraser Brown sold 5,000 shares of the company’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of $221.75, for a total transaction of $1,108,750.00. Following the completion of the transaction, the director now owns 24,931 shares in the company, valued at approximately $5,528,449.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Syam Nair sold 6,675 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $221.34, for a total transaction of $1,477,444.50. Following the transaction, the insider now owns 140,187 shares of the company’s stock, valued at approximately $31,028,990.58. The disclosure for this sale can be found here. Insiders sold a total of 87,972 shares of company stock worth $19,342,443 in the last 90 days. Company insiders own 19.20% of the company’s stock.
Hedge Funds Weigh In On Zscaler
A number of large investors have recently made changes to their positions in the stock. American International Group Inc. increased its holdings in shares of Zscaler by 3.0% in the 4th quarter. American International Group Inc. now owns 11,805 shares of the company’s stock valued at $2,616,000 after purchasing an additional 348 shares in the last quarter. Syon Capital LLC purchased a new position in shares of Zscaler in the 4th quarter valued at about $668,000. Sierra Summit Advisors LLC purchased a new position in shares of Zscaler in the 4th quarter valued at about $5,609,000. V Square Quantitative Management LLC increased its holdings in shares of Zscaler by 68.5% in the 4th quarter. V Square Quantitative Management LLC now owns 972 shares of the company’s stock valued at $215,000 after purchasing an additional 395 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its holdings in shares of Zscaler by 23.9% in the 4th quarter. Chartwell Investment Partners LLC now owns 9,176 shares of the company’s stock valued at $2,033,000 after purchasing an additional 1,770 shares in the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.
Zscaler Stock Performance
The stock has a market capitalization of $32.52 billion, a price-to-earnings ratio of -188.99 and a beta of 0.85. The stock’s 50 day moving average is $233.87 and its 200 day moving average is $193.32. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.40.
Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 15.87%. The company had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. On average, analysts predict that Zscaler, Inc. will post -0.94 earnings per share for the current year.
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.