Zscaler (NASDAQ:ZS) Earns Buy Rating from Credit Suisse Group

Credit Suisse Group reissued their buy rating on shares of Zscaler (NASDAQ:ZS) in a research report released on Monday, AnalystRatings.com reports. The firm currently has a $70.00 price objective on the stock.

Several other brokerages also recently issued reports on ZS. Rosenblatt Securities reissued a hold rating and set a $50.00 price objective on shares of Zscaler in a research report on Wednesday, December 4th. Morgan Stanley reissued a sell rating and set a $40.00 price objective on shares of Zscaler in a research report on Thursday, December 5th. UBS Group increased their price objective on shares of Zscaler from $53.00 to $55.00 and gave the stock a neutral rating in a research report on Wednesday, December 4th. BMO Capital Markets lowered 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 report on Wednesday, December 4th. Finally, Robert W. Baird lowered their price objective on shares of Zscaler from $70.00 to $65.00 and set a positive rating for the company in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $63.11.

Shares of NASDAQ ZS opened at $45.20 on Monday. The company’s 50 day simple moving average is $46.08 and its 200 day simple moving average is $63.56. Zscaler has a fifty-two week low of $34.21 and a fifty-two week high of $89.54. The firm has a market capitalization of $5.97 billion, a P/E ratio of -376.67 and a beta of 1.22.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, December 3rd. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.11. Zscaler had a negative net margin of 11.45% and a negative return on equity of 11.45%. The firm had revenue of $93.59 million during the quarter, compared to the consensus estimate of $89.81 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business’s quarterly revenue was up 47.9% on a year-over-year basis. Equities research analysts anticipate that Zscaler will post -0.34 earnings per share for the current fiscal year.

In other news, insider Robert Schlossman sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $50.51, for a total transaction of $101,020.00. Following the completion of the sale, the insider now owns 94,966 shares in the company, valued at approximately $4,796,732.66. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen Blasing sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $46.80, for a total transaction of $46,800.00. In the last 90 days, insiders have sold 7,000 shares of company stock valued at $345,300. 23.80% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Zscaler by 16.1% during the second quarter. Vanguard Group Inc. now owns 4,739,352 shares of the company’s stock worth $363,224,000 after acquiring an additional 655,847 shares during the period. Allianz Asset Management GmbH increased its position in Zscaler by 19.5% during the second quarter. Allianz Asset Management GmbH now owns 2,453,763 shares of the company’s stock worth $188,057,000 after acquiring an additional 400,253 shares during the period. Nuveen Asset Management LLC bought a new position in Zscaler during the second quarter worth about $148,614,000. First Trust Advisors LP increased its position in Zscaler by 53.8% during the third quarter. First Trust Advisors LP now owns 1,257,760 shares of the company’s stock worth $59,442,000 after acquiring an additional 440,077 shares during the period. Finally, State Street Corp increased its position in Zscaler by 8.2% during the third quarter. State Street Corp now owns 845,097 shares of the company’s stock worth $39,939,000 after acquiring an additional 64,095 shares during the period. 36.34% of the stock is currently owned by institutional investors and hedge funds.

About Zscaler

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.

See Also: Buyback For Investors Defined

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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