Zscaler, Inc. (NASDAQ:ZS – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $244.00, but opened at $233.45. Zscaler shares last traded at $230.05, with a volume of 1,008,693 shares changing hands.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on ZS. Stifel Nicolaus restated a “buy” rating and set a $205.00 price target on shares of Zscaler in a report on Tuesday, November 28th. Piper Sandler raised their target price on Zscaler from $190.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 28th. Oppenheimer raised their target price on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 3rd. Evercore ISI raised their target price on Zscaler from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 28th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $220.00 price objective on shares of Zscaler in a report on Tuesday, November 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $210.51.
Zscaler Trading Down 6.0 %
The business’s 50-day moving average price is $220.30 and its two-hundred day moving average price is $180.65. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.96 and a quick ratio of 1.96. The firm has a market cap of $34.02 billion, a price-to-earnings ratio of -195.62 and a beta of 0.86.
Zscaler (NASDAQ:ZS – Get Free Report) last issued its quarterly earnings results on Monday, November 27th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.18. The company had revenue of $496.70 million during the quarter, compared to the consensus estimate of $473.36 million. Zscaler had a negative return on equity of 21.39% and a negative net margin of 9.54%. Zscaler’s revenue was up 39.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.47) EPS. Equities analysts expect that Zscaler, Inc. will post -0.94 earnings per share for the current year.
Insiders Place Their Bets
In related news, major shareholder Ajay Mangal sold 55,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $196.90, for a total transaction of $10,829,500.00. Following the completion of the sale, the insider now owns 21,511,041 shares of the company’s stock, valued at approximately $4,235,523,972.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Amit Sinha sold 3,680 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $183.94, for a total value of $676,899.20. Following the completion of the sale, the director now directly owns 36,800 shares in the company, valued at approximately $6,768,992. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 55,000 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $196.90, for a total value of $10,829,500.00. Following the completion of the sale, the insider now owns 21,511,041 shares of the company’s stock, valued at approximately $4,235,523,972.90. The disclosure for this sale can be found here. Insiders sold 150,332 shares of company stock worth $31,166,722 over the last three months. 19.20% of the stock is owned by insiders.
Institutional Investors Weigh In On Zscaler
A number of large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc grew its stake in Zscaler by 60.5% during the 2nd quarter. IFP Advisors Inc now owns 1,037 shares of the company’s stock valued at $29,000 after purchasing an additional 391 shares in the last quarter. BluePath Capital Management LLC acquired a new stake in shares of Zscaler during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust grew its position in shares of Zscaler by 582.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after buying an additional 134 shares in the last quarter. GAMMA Investing LLC acquired a new stake in shares of Zscaler during the fourth quarter worth approximately $37,000. Finally, KB Financial Partners LLC acquired a new stake in shares of Zscaler during the first quarter worth approximately $39,000. 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.