Zscaler (NASDAQ:ZS) Given Neutral Rating at Guggenheim

Zscaler (NASDAQ:ZS)‘s stock had its “neutral” rating reiterated by investment analysts at Guggenheim in a note issued to investors on Tuesday,Benzinga reports.

A number of other research analysts have also recently commented on the company. Piper Sandler raised their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday. Wedbush lowered their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Bank of America downgraded shares of Zscaler from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Canaccord Genuity Group boosted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Robert W. Baird decreased their target price on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Stock Performance

Shares of Zscaler stock traded down $9.75 during midday trading on Tuesday, reaching $198.76. 4,162,407 shares of the company’s stock traded hands, compared to its average volume of 2,030,991. The company has a market cap of $30.50 billion, a PE ratio of -496.89 and a beta of 0.82. The stock has a 50 day moving average of $190.12 and a 200-day moving average of $184.80. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period last year, the company posted ($0.18) EPS. The company’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 4.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. 18.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently modified their holdings of ZS. Quest Partners LLC bought a new stake in Zscaler in the 2nd quarter valued at $28,000. Prestige Wealth Management Group LLC bought a new stake in shares of Zscaler in the third quarter worth about $31,000. True Wealth Design LLC lifted its position in shares of Zscaler by 18,500.0% in the third 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. Wilmington Savings Fund Society FSB bought a new position in Zscaler during the third quarter valued at approximately $38,000. Finally, Asset Dedication LLC increased its stake in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after acquiring an additional 166 shares during 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.