Zscaler (NASDAQ:ZS) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Zscaler (NASDAQ:ZS) from a sector weight rating to an overweight rating in a research report sent to investors on Thursday, Marketbeat reports. They currently have $220.00 target price on the stock.

ZS has been the subject of several other reports. Needham & Company LLC reaffirmed a strong-buy rating and set a $290.00 price objective on shares of Zscaler in a research report on Friday, March 1st. Wedbush upped their price objective on Zscaler from $250.00 to $260.00 and gave the stock an outperform rating in a research report on Friday, March 1st. Barclays lowered their price objective on Zscaler from $259.00 to $240.00 and set an overweight rating for the company in a research report on Friday, March 1st. Cantor Fitzgerald reaffirmed a neutral rating and set a $230.00 price objective on shares of Zscaler in a research report on Wednesday. Finally, The Goldman Sachs Group upped their price objective on Zscaler from $189.00 to $215.00 and gave the stock a neutral rating in a research report on Monday, March 4th. Five analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Zscaler has a consensus rating of Moderate Buy and an average price target of $230.24.

Zscaler Trading Up 0.0 %

ZS opened at $172.97 on Thursday. Zscaler has a 12 month low of $84.93 and a 12 month high of $259.61. The stock has a market capitalization of $25.92 billion, a price-to-earnings ratio of -182.07 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The business has a fifty day moving average price of $207.79 and a 200 day moving average price of $202.60.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative return on equity of 14.60% and a negative net margin of 7.32%. The firm had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $507.56 million. Sell-side analysts expect that Zscaler will post -0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at approximately $70,915,408.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Zscaler news, insider Syam Nair sold 2,893 shares of the firm’s 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 transaction, the insider now directly owns 137,294 shares of the company’s stock, valued at $26,518,336.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,715 shares of company stock valued at $5,865,882. 19.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ZS. 1832 Asset Management L.P. acquired a new stake in shares of Zscaler during the fourth quarter valued at about $217,683,000. Renaissance Technologies LLC acquired a new stake in shares of Zscaler during the first quarter valued at about $168,365,000. Norges Bank acquired a new stake in shares of Zscaler during the fourth quarter valued at about $59,634,000. Polar Capital Holdings Plc acquired a new stake in shares of Zscaler during the third quarter valued at about $61,681,000. Finally, Trivest Advisors Ltd acquired a new stake in shares of Zscaler during the fourth quarter valued at about $72,051,000. 46.45% of the stock is owned by hedge funds and other 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.