Zscaler’s (ZS) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a research report sent to investors on Monday morning, Benzinga reports. JMP Securities currently has a $270.00 target price on the stock.

A number of other analysts also recently issued reports on ZS. BMO Capital Markets decreased their target price on Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Mizuho lowered shares of Zscaler from an “outperform” rating to a “neutral” rating and set a $220.00 price objective for the company. in a report on Tuesday, July 16th. Wedbush reduced their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Scotiabank lowered their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, September 4th. Finally, Susquehanna reissued a “positive” rating and issued a $210.00 target price on shares of Zscaler in a report on Thursday, September 5th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $216.73.

Zscaler Stock Performance

NASDAQ ZS opened at $184.90 on Monday. The stock’s 50 day moving average price is $179.63 and its two-hundred day moving average price is $180.95. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm 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 3.46% and a negative net margin of 2.66%. The business’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.17) EPS. Analysts anticipate that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now owns 25,907 shares in the company, valued at $4,510,408.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $5,256,651. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Versor Investments LP raised its holdings in Zscaler by 12.9% during the 3rd quarter. Versor Investments LP now owns 1,282 shares of the company’s stock valued at $219,000 after buying an additional 146 shares during the last quarter. United Capital Management of KS Inc. lifted its stake in shares of Zscaler by 2.5% in the 3rd quarter. United Capital Management of KS Inc. now owns 29,756 shares of the company’s stock worth $5,086,000 after purchasing an additional 723 shares during the period. Objective Capital Management LLC bought a new position in shares of Zscaler in the 3rd quarter worth approximately $203,000. Executive Wealth Management LLC purchased a new stake in Zscaler in the 3rd quarter worth approximately $280,000. Finally, SpiderRock Advisors LLC grew its holdings in Zscaler by 1,396.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 17,146 shares of the company’s stock valued at $2,931,000 after buying an additional 16,000 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

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.