Zscaler (NASDAQ:ZS) Receives “Outperform” Rating from Royal Bank of Canada

Zscaler (NASDAQ:ZS)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $230.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 16.04% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ZS. UBS Group lowered their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. JPMorgan Chase & Co. boosted their price objective on shares of Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday. KeyCorp upped their target price on shares of Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price target on shares of Zscaler in a report on Tuesday. Finally, Scotiabank upped their price objective on Zscaler from $195.00 to $205.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $223.44.

Zscaler Price Performance

NASDAQ:ZS traded down $10.30 on Tuesday, hitting $198.21. 2,179,472 shares of the company’s stock were exchanged, compared to its average volume of 2,023,167. The firm has a 50-day moving average price of $190.12 and a 200-day moving average price of $184.80. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The company has a market cap of $30.41 billion, a P/E ratio of -495.51 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) earnings per share. On average, research analysts expect that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. This trade represents a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds have recently added to or reduced their stakes in ZS. DekaBank Deutsche Girozentrale boosted its stake in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Fred Alger Management LLC raised its holdings in Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock valued at $1,773,000 after buying an additional 9,542 shares during the last quarter. Creative Planning boosted its position in Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA bought a new stake in Zscaler during the 2nd quarter worth approximately $25,287,000. Finally, Strategic Advisors LLC increased its position in Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after acquiring an additional 6,712 shares during the period. Institutional investors and hedge funds 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.