Zscaler (NASDAQ:ZS) Earns Neutral Rating from Analysts at B. Riley

B. Riley began coverage on shares of Zscaler (NASDAQ:ZS) in a report published on Tuesday morning, Marketbeat reports. The firm issued a neutral rating and a $275.00 price objective on the stock.

Several other analysts have also weighed in on ZS. UBS Group boosted their price objective on Zscaler from $315.00 to $365.00 and gave the company a “buy” rating in a report on Friday, June 27th. Barclays boosted their price objective on Zscaler from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on Zscaler from $292.00 to $348.00 and gave the company an “overweight” rating in a report on Monday, June 16th. BMO Capital Markets boosted their price objective on Zscaler from $233.00 to $295.00 and gave the company an “outperform” rating in a report on Friday, May 30th. Finally, Wall Street Zen raised Zscaler from a “hold” rating to a “buy” rating in a report on Sunday, June 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $296.49.

Zscaler Stock Performance

NASDAQ:ZS opened at $280.42 on Tuesday. The stock has a market cap of $43.66 billion, a price-to-earnings ratio of -1,078.54, a price-to-earnings-growth ratio of 291.28 and a beta of 1.06. Zscaler has a one year low of $153.45 and a one year high of $318.46. The business’s 50-day simple moving average is $289.72 and its 200 day simple moving average is $248.37.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%.Zscaler’s quarterly revenue was up 22.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 earnings per share. On average, equities research analysts predict that Zscaler will post -0.1 EPS for the current year.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,618 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $300.00, for a total value of $1,385,400.00. Following the completion of the transaction, the insider directly owned 95,612 shares of the company’s stock, valued at $28,683,600. This represents a 4.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Syam Nair sold 4,064 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $303.70, for a total value of $1,234,236.80. Following the completion of the transaction, the insider directly owned 106,659 shares of the company’s stock, valued at $32,392,338.30. This trade represents a 3.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 168,256 shares of company stock valued at $50,618,544. 18.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZS. T. Rowe Price Investment Management Inc. bought a new position in Zscaler in the 1st quarter worth approximately $516,622,000. Federated Hermes Inc. grew its holdings in Zscaler by 314.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,171,983 shares of the company’s stock worth $367,932,000 after buying an additional 888,888 shares in the last quarter. Vanguard Group Inc. grew its holdings in Zscaler by 8.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,715,132 shares of the company’s stock worth $3,363,909,000 after buying an additional 824,626 shares in the last quarter. Nuveen LLC bought a new position in Zscaler during the 1st quarter valued at $153,340,000. Finally, Goldman Sachs Group Inc. boosted its stake in Zscaler by 23.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock valued at $604,831,000 after purchasing an additional 578,883 shares in the last quarter. 46.45% of the stock is owned by institutional investors.

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.