Zscaler (NASDAQ:ZS) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Zscaler (NASDAQ:ZS) in a research note published on Friday,Benzinga reports. Needham & Company LLC currently has a $240.00 price target on the stock.

Other analysts also recently issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 target price (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Guggenheim reiterated a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Loop Capital cut their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research note on Tuesday, December 3rd. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Trading Up 1.4 %

Shares of NASDAQ ZS opened at $189.98 on Friday. The business has a 50-day moving average of $196.72 and a 200-day moving average of $188.10. The firm has a market capitalization of $29.15 billion, a price-to-earnings ratio of -759.92 and a beta of 0.87. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. On average, analysts predict that Zscaler will post -0.24 earnings per share for the current year.

Insider Activity

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares in the company, valued at $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock worth $2,052,879 in the last three months. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in ZS. Quest Partners LLC bought a new position in shares of Zscaler during the 2nd quarter valued at approximately $28,000. Prestige Wealth Management Group LLC purchased a new stake in Zscaler during the third quarter valued at $31,000. Versant Capital Management Inc lifted its position in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after purchasing an additional 104 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares in the last quarter. Finally, Modus Advisors LLC bought a new stake in shares of Zscaler in the 4th quarter worth about $36,000. 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.