Zscaler (NASDAQ:ZS) Raised to “Buy” at Rosenblatt Securities

Rosenblatt Securities upgraded shares of Zscaler (NASDAQ:ZS) from a neutral rating to a buy rating in a research report released on Thursday morning, Marketbeat reports. Rosenblatt Securities currently has $235.00 price objective on the stock, up from their previous price objective of $190.00.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group lifted their price target on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. BTIG Research lifted their price target on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Mizuho lifted their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Loop Capital reduced their price objective on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research report on Tuesday, December 3rd. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $232.84.

Zscaler Stock Performance

NASDAQ ZS opened at $202.16 on Thursday. The firm has a 50 day simple moving average of $196.01 and a 200-day simple moving average of $191.57. Zscaler has a one year low of $153.45 and a one year high of $217.84. The firm has a market cap of $31.02 billion, a price-to-earnings ratio of -808.64 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. Equities analysts predict that Zscaler will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction dated 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 directly owns 358,569 shares in the company, valued at $71,828,542.08. This represents a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction dated 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 approximately $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 in the last ninety days. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. lifted its holdings in shares of Zscaler by 127.4% during the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares during the period. Summit Securities Group LLC purchased a new position in shares of Zscaler during the 4th quarter worth about $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new position in Zscaler in the fourth quarter valued at approximately $29,000. Finally, Elequin Capital LP purchased a new position in Zscaler in the fourth quarter valued at approximately $30,000. 46.45% of the stock is currently owned by hedge funds and other 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.