Zscaler’s (ZS) “Outperform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reissued their outperform rating on shares of Zscaler (NASDAQ:ZS) in a report issued on Tuesday morning,Benzinga reports. They currently have a $230.00 price objective on the stock.

A number of other research analysts have also issued reports on the company. Bank of America lowered Zscaler from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Oppenheimer lowered their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 price objective on shares of Zscaler in a research report on Wednesday, September 4th. Canaccord Genuity Group upped their target price on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $224.38.

Zscaler Stock Down 4.7 %

Zscaler stock opened at $198.64 on Tuesday. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The company has a fifty day moving average price of $190.79 and a two-hundred day moving average price of $185.01.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating 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 0.80%. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, sell-side analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC increased its position in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Zscaler by 13,498.6% during the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock worth $48,769,000 after acquiring an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd acquired a new position in shares of Zscaler during the 3rd quarter valued at about $32,660,000. Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler in the 2nd quarter valued at approximately $25,287,000. Finally, Westfield Capital Management Co. LP lifted its holdings in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Company Profile

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.