Zscaler (NASDAQ:ZS) Upgraded to Buy at Rosenblatt Securities

Zscaler (NASDAQ:ZS) was upgraded by Rosenblatt Securities from a “neutral” rating to a “buy” rating in a research note issued on Thursday,Briefing.com Automated Import reports. The firm currently has a $235.00 price objective on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 19.62% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. BTIG Research boosted their price objective on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research report on Wednesday, November 27th. Scotiabank restated a “sector outperform” rating on shares of Zscaler in a research report on Wednesday. Canaccord Genuity Group boosted their price target on shares of Zscaler from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Stifel Nicolaus boosted their price target on shares of Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Susquehanna boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $228.39.

Zscaler Stock Up 1.4 %

Zscaler stock opened at $196.45 on Thursday. The firm has a fifty day simple moving average of $195.83 and a two-hundred day simple moving average of $191.54. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84. The company has a market capitalization of $30.14 billion, a PE ratio of -785.80 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, equities analysts expect that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of Zscaler stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock worth $2,052,879 over the last quarter. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its position in shares of Zscaler by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock valued at $298,710,000 after purchasing an additional 32,545 shares during the period. Pictet Asset Management Holding SA increased its holdings in Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after acquiring an additional 332,307 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the last quarter. AQR Capital Management LLC increased its holdings in Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Finally, Artisan Partners Limited Partnership increased its holdings in Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock valued at $156,739,000 after acquiring an additional 204,996 shares during the last quarter. 46.45% of the stock is currently 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.