Zscaler (NASDAQ:ZS) Given Neutral Rating at Cantor Fitzgerald

Zscaler (NASDAQ:ZS)‘s stock had its “neutral” rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued on Wednesday, Benzinga reports. They presently have a $230.00 price objective on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 32.21% from the company’s previous close.

ZS has been the subject of a number of other research reports. Morgan Stanley boosted their price target on Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Citigroup boosted their price target on Zscaler from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. KeyCorp initiated coverage on Zscaler in a research note on Wednesday, January 17th. They issued a “sector weight” rating for the company. The Goldman Sachs Group boosted their target price on Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Friday, March 1st. Six research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $230.55.

Zscaler Stock Performance

Shares of Zscaler stock traded down $0.36 during trading on Wednesday, reaching $173.96. The company’s stock had a trading volume of 983,524 shares, compared to its average volume of 2,272,813. The business’s 50-day moving average price is $210.76 and its 200-day moving average price is $203.02. The firm has a market cap of $26.07 billion, a PE ratio of -183.52 and a beta of 0.80. Zscaler has a 52 week low of $84.93 and a 52 week high of $259.61. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, February 29th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The company had revenue of $525.00 million during the quarter, compared to analysts’ expectations of $507.56 million. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. Equities analysts forecast that Zscaler will post -0.81 earnings per share for the current year.

Insider Transactions at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the transaction, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Remo Canessa sold 7,707 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total value of $1,488,607.05. Following the completion of the sale, the chief financial officer now directly owns 255,943 shares of the company’s stock, valued at approximately $49,435,390.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Insiders have sold 26,715 shares of company stock valued at $5,865,882 over the last ninety days. 19.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the stock. Spire Wealth Management increased its position in shares of Zscaler by 24.5% during the 4th quarter. Spire Wealth Management now owns 249 shares of the company’s stock valued at $58,000 after purchasing an additional 49 shares during the last quarter. US Bancorp DE increased its position in shares of Zscaler by 0.3% during the 4th quarter. US Bancorp DE now owns 22,944 shares of the company’s stock valued at $5,083,000 after purchasing an additional 59 shares during the last quarter. Nwam LLC increased its position in shares of Zscaler by 3.5% during the 4th quarter. Nwam LLC now owns 1,821 shares of the company’s stock valued at $403,000 after purchasing an additional 62 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its position in shares of Zscaler by 1.7% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $585,000 after purchasing an additional 63 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of Zscaler by 2.7% during the 1st quarter. International Assets Investment Management LLC now owns 2,558 shares of the company’s stock worth $617,000 after acquiring an additional 67 shares during the period. 46.45% of the stock is 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.