Zscaler (NASDAQ:ZS) Rating Reiterated by SunTrust Banks

SunTrust Banks restated their buy rating on shares of Zscaler (NASDAQ:ZS) in a report issued on Wednesday, TipRanks reports. The firm currently has a $73.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the company. Robert W. Baird decreased their target price on Zscaler from $70.00 to $65.00 and set a positive rating for the company in a research report on Wednesday. Wedbush dropped their price target on shares of Zscaler from $90.00 to $80.00 and set an outperform rating on the stock in a research report on Wednesday, September 11th. DA Davidson reissued an outperform rating and issued a $58.00 price target on shares of Zscaler in a research report on Wednesday. BMO Capital Markets reduced their price objective on shares of Zscaler from $60.00 to $58.00 and set a market perform rating for the company in a research note on Wednesday. Finally, Goldman Sachs Group began coverage on shares of Zscaler in a research note on Tuesday, November 12th. They issued a neutral rating and a $45.00 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $62.70.

NASDAQ ZS opened at $46.70 on Wednesday. Zscaler has a fifty-two week low of $34.21 and a fifty-two week high of $89.54. The stock’s 50-day moving average is $45.76 and its two-hundred day moving average is $64.31. The firm has a market cap of $5.97 billion, a P/E ratio of -389.17 and a beta of 1.22.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, December 3rd. The company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.11. The company had revenue of $93.59 million during the quarter, compared to the consensus estimate of $89.81 million. Zscaler had a negative return on equity of 9.46% and a negative net margin of 9.46%. The firm’s revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. On average, analysts forecast that Zscaler will post -0.24 earnings per share for the current fiscal year.

In other Zscaler news, insider Robert Schlossman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $50.51, for a total value of $101,020.00. Following the completion of the transaction, the insider now owns 94,966 shares of the company’s stock, valued at approximately $4,796,732.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karen Blasing sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $46.80, for a total value of $46,800.00. Insiders have sold 7,000 shares of company stock worth $345,300 in the last ninety days. 23.80% of the stock is currently owned by insiders.

Several large investors have recently made changes to their positions in the company. Beck Bode LLC bought a new position in shares of Zscaler during the 3rd quarter worth about $2,339,000. Man Group plc raised its position in Zscaler by 96.4% in the third quarter. Man Group plc now owns 54,387 shares of the company’s stock worth $2,571,000 after purchasing an additional 26,697 shares in the last quarter. Squarepoint Ops LLC lifted its stake in Zscaler by 302.4% during the third quarter. Squarepoint Ops LLC now owns 56,881 shares of the company’s stock worth $2,688,000 after purchasing an additional 42,744 shares during the period. Voloridge Investment Management LLC bought a new position in Zscaler during the third quarter worth about $9,115,000. Finally, GQ Asset Management LLC boosted its holdings in Zscaler by 23.4% during the third quarter. GQ Asset Management LLC now owns 2,023 shares of the company’s stock valued at $96,000 after purchasing an additional 384 shares in the last quarter. 36.46% of the stock is currently owned by institutional investors.

Zscaler Company Profile

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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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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