Zscaler (NASDAQ:ZS) Trading Up 4.6%

Zscaler, Inc. (NASDAQ:ZS) shares rose 4.6% on Thursday . The company traded as high as $187.21 and last traded at $187.21. Approximately 567,949 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 2,238,589 shares. The stock had previously closed at $178.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ZS. Citigroup decreased their price objective on shares of Zscaler from $270.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Loop Capital cut their price target on shares of Zscaler from $225.00 to $180.00 and set a “hold” rating on the stock in a research note on Friday, May 31st. Truist Financial reissued a “buy” rating and issued a $260.00 price objective on shares of Zscaler in a research note on Monday, April 1st. BTIG Research cut their target price on shares of Zscaler from $258.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Sanford C. Bernstein decreased their target price on Zscaler from $280.00 to $270.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Six research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $225.21.

Zscaler Stock Up 1.6 %

The firm has a market cap of $29.05 billion, a price-to-earnings ratio of -376.84 and a beta of 0.85. The firm has a fifty day moving average price of $176.89 and a 200-day moving average price of $202.77. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.39. The business had revenue of $553.20 million for the quarter, compared to analysts’ expectations of $535.55 million. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. As a group, sell-side analysts forecast that Zscaler, Inc. will post -0.34 EPS for the current year.

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the firm’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total value of $1,414,313.01. Following the transaction, the chief financial officer now directly owns 243,486 shares of the company’s stock, valued at $43,148,154.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ZS. DekaBank Deutsche Girozentrale grew its holdings in Zscaler by 2.1% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 254,627 shares of the company’s stock worth $48,970,000 after acquiring an additional 5,317 shares in the last quarter. Cambridge Trust Co. increased its holdings in Zscaler by 133.3% in the first quarter. Cambridge Trust Co. now owns 700 shares of the company’s stock valued at $135,000 after buying an additional 400 shares during the last quarter. Teachers Retirement System of The State of Kentucky acquired a new stake in Zscaler during the first quarter valued at approximately $3,877,000. Cetera Advisors LLC lifted its holdings in Zscaler by 146.7% during the 1st quarter. Cetera Advisors LLC now owns 8,079 shares of the company’s stock worth $1,556,000 after buying an additional 4,804 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Zscaler by 895.1% in the 1st quarter. Cetera Investment Advisers now owns 31,395 shares of the company’s stock worth $6,048,000 after acquiring an additional 28,240 shares in the last quarter. Hedge funds and other 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.