Brokerages Set Zscaler Inc (NASDAQ:ZS) PT at $64.94

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Shares of Zscaler Inc (NASDAQ:ZS) have been given an average rating of “Hold” by the twenty analysts that are currently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $64.06.

Several equities research analysts recently commented on ZS shares. Rosenblatt Securities reaffirmed a “hold” rating and issued a $50.00 price target on shares of Zscaler in a report on Wednesday, September 18th. Berenberg Bank raised Zscaler from a “hold” rating to a “buy” rating and cut their price target for the company from $78.00 to $60.00 in a report on Tuesday, September 24th. SunTrust Banks started coverage on Zscaler in a report on Wednesday, October 2nd. They issued a “buy” rating and a $73.00 price target for the company. UBS Group cut their price target on Zscaler from $70.00 to $53.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Finally, OTR Global cut Zscaler from a “mixed” rating to a “negative” rating in a report on Monday, August 19th.

Shares of NASDAQ:ZS traded down $2.31 during midday trading on Friday, hitting $42.84. The company had a trading volume of 5,406,853 shares, compared to its average volume of 2,645,873. Zscaler has a twelve month low of $30.72 and a twelve month high of $89.54. The stock has a market cap of $5.75 billion, a price-to-earnings ratio of -357.00 and a beta of 1.19. The business’s 50-day simple moving average is $52.97 and its 200-day simple moving average is $69.57.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 9.46% and a negative net margin of 9.46%. The firm had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $82.15 million. As a group, equities research analysts expect that Zscaler will post -0.24 earnings per share for the current fiscal year.

In other news, EVP Amit Sinha sold 44,982 shares of Zscaler stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $84.96, for a total value of $3,821,670.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Blasing sold 1,000 shares of Zscaler stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $46.80, for a total value of $46,800.00. In the last three months, insiders have sold 168,561 shares of company stock valued at $13,965,018. 27.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC purchased a new position in Zscaler in the second quarter valued at $148,614,000. FMR LLC lifted its holdings in Zscaler by 11.7% during the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock worth $507,877,000 after buying an additional 750,088 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Zscaler by 16.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock worth $363,224,000 after buying an additional 655,847 shares during the last quarter. First Trust Advisors LP lifted its holdings in Zscaler by 474.2% during the 1st quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock worth $41,575,000 after buying an additional 484,056 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in Zscaler by 19.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,453,763 shares of the company’s stock worth $188,057,000 after buying an additional 400,253 shares during the last quarter. 32.98% of the stock is owned by institutional investors and hedge funds.

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.

Read More: Calculating net profit and net profit margin ratio

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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