Zscaler (NASDAQ:ZS) Rating Reiterated by Rosenblatt Securities

Rosenblatt Securities reaffirmed their neutral rating on shares of Zscaler (NASDAQ:ZS) in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a $190.00 target price on the stock.

Several other equities analysts have also issued reports on the company. Robert W. Baird decreased their target price on Zscaler from $260.00 to $225.00 and set an outperform rating for the company in a research report on Wednesday. Piper Sandler lowered their target price on shares of Zscaler from $255.00 to $215.00 and set an overweight rating for the company in a research note on Wednesday. JMP Securities reissued a market outperform rating and set a $270.00 price target on shares of Zscaler in a research report on Wednesday. UBS Group decreased their price target on shares of Zscaler from $270.00 to $250.00 and set a buy rating for the company in a report on Wednesday. Finally, BTIG Research reduced their target price on Zscaler from $220.00 to $205.00 and set a buy rating on the stock in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $218.39.

Zscaler Price Performance

Shares of ZS stock opened at $156.78 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04. The firm has a market capitalization of $23.70 billion, a price-to-earnings ratio of -307.41 and a beta of 0.82. The firm’s 50 day moving average is $187.65 and its 200-day moving average is $187.23. Zscaler has a 1 year low of $146.59 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.75% and a negative net margin of 2.66%. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) earnings per share. Sell-side analysts forecast that Zscaler will post -0.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Zscaler news, CFO Remo Canessa sold 4,689 shares of Zscaler stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $180.93, for a total transaction of $848,380.77. Following the completion of the transaction, the chief financial officer now directly owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently made changes to their positions in ZS. Quest Partners LLC acquired a new stake in Zscaler in the 2nd quarter worth about $28,000. Jones Financial Companies Lllp acquired a new stake in shares of Zscaler in the fourth quarter valued at approximately $29,000. Quadrant Capital Group LLC boosted its stake in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock valued at $39,000 after buying an additional 70 shares during the period. Asset Dedication LLC grew its position in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC acquired a new position in Zscaler in the 2nd quarter valued at $50,000. Institutional investors own 46.45% of the company’s stock.

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.