Zscaler (NASDAQ:ZS) Trading 6.3% Higher

Zscaler Inc (NASDAQ:ZS) shares traded up 6.3% during trading on Tuesday . The stock traded as high as $51.55 and last traded at $50.64, 6,770,977 shares traded hands during mid-day trading. An increase of 176% from the average session volume of 2,454,673 shares. The stock had previously closed at $47.62.

Several analysts have commented on the company. Robert W. Baird dropped their price objective on Zscaler from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Wednesday, September 11th. Barclays lowered their price target on Zscaler from $80.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 11th. Bank of America set a $77.00 price target on Zscaler and gave the stock a “neutral” rating in a research note on Friday, May 31st. Berenberg Bank initiated coverage on Zscaler in a research note on Friday, May 31st. They issued a “hold” rating and a $78.00 price target on the stock. Finally, Zacks Investment Research lowered Zscaler from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $67.50.

The company has a market cap of $5.97 billion, a PE ratio of -422.00 and a beta of 1.31. The stock has a 50-day simple moving average of $72.15 and a 200 day simple moving average of $72.09.



Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. The company had revenue of $86.11 million for the quarter, compared to the consensus estimate of $82.15 million. On average, equities research analysts predict that Zscaler Inc will post -0.22 EPS for the current year.

In related news, Director Karen Blasing sold 1,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $78.23, for a total transaction of $78,230.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Manoj Apte sold 95,544 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $84.91, for a total value of $8,112,641.04. The disclosure for this sale can be found here. Insiders sold 187,561 shares of company stock valued at $15,559,468 over the last ninety days. Insiders own 27.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZS. Nuveen Asset Management LLC acquired a new position in Zscaler during the 2nd quarter worth $148,614,000. FMR LLC boosted its position in shares of Zscaler by 11.7% during the 1st quarter. FMR LLC now owns 7,160,253 shares of the company’s stock worth $507,877,000 after acquiring an additional 750,088 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Zscaler by 16.1% during the 2nd quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock worth $363,224,000 after acquiring an additional 655,847 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Zscaler by 474.2% during the 1st quarter. First Trust Advisors LP now owns 586,138 shares of the company’s stock worth $41,575,000 after acquiring an additional 484,056 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Zscaler by 61.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,084,991 shares of the company’s stock worth $76,958,000 after acquiring an additional 413,072 shares in the last quarter. 33.45% of the stock is owned by hedge funds and other institutional investors.

About Zscaler (NASDAQ:ZS)

Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.

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