Zscaler (NASDAQ:ZS) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Zscaler (NASDAQ:ZS) in a report issued on Tuesday,Benzinga reports. They currently have a $240.00 price target on the stock.

Several other equities analysts have also recently issued reports on ZS. Wedbush lowered their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Canaccord Genuity Group lifted their target price on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, September 4th. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Morgan Stanley cut their target price on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $198.64 on Tuesday. The firm’s 50-day simple moving average is $190.79 and its 200 day simple moving average is $185.01. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. Zscaler’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.18) EPS. On average, sell-side analysts expect that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. The trade was a 4.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new position in Zscaler during the second quarter valued at about $28,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler in the 3rd quarter valued at approximately $31,000. True Wealth Design LLC lifted its holdings in Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the last quarter. Asset Dedication LLC boosted 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 purchasing an additional 166 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the third quarter valued at approximately $38,000. 46.45% of the stock is currently owned by institutional investors.

About Zscaler

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.