Zscaler (NASDAQ:ZS) Upgraded to “Overweight” by KeyCorp

Zscaler (NASDAQ:ZS) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a report issued on Thursday, Marketbeat reports. The brokerage currently has a $220.00 price target on the stock. KeyCorp’s price target suggests a potential upside of 27.20% from the company’s current price.

ZS has been the topic of several other research reports. Citigroup raised their target price on shares of Zscaler from $235.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Wedbush raised their target price on shares of Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Barclays dropped their target price on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, March 1st. Truist Financial reissued a “buy” rating and issued a $260.00 target price on shares of Zscaler in a research note on Monday, April 1st. Finally, Morgan Stanley lifted their price objective on shares of Zscaler from $195.00 to $214.00 and gave the stock an “equal weight” rating in a research report on Monday, February 26th. Five investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.24.

Zscaler Trading Down 0.8 %

Shares of Zscaler stock opened at $172.96 on Thursday. Zscaler has a 12-month low of $84.93 and a 12-month high of $259.61. The company has a 50-day simple moving average of $209.32 and a 200 day simple moving average of $202.81. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $25.92 billion, a P/E ratio of -182.06 and a beta of 0.80.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The firm had revenue of $525.00 million for the quarter, compared to analyst estimates of $507.56 million. Research analysts expect that Zscaler will post -0.81 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other news, insider Syam Nair sold 2,893 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 transaction of $558,782.95. Following the completion of the transaction, the insider now owns 137,294 shares in the company, valued at approximately $26,518,336.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karen Blasing sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $250.90, for a total value of $1,756,300.00. Following the transaction, the director now directly owns 40,372 shares in the company, valued at $10,129,334.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.15, for a total transaction of $558,782.95. Following the transaction, the insider now owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last three months, insiders sold 26,715 shares of company stock valued at $5,865,882. 19.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Sequoia Financial Advisors LLC bought a new position in Zscaler during the fourth quarter valued at approximately $9,674,000. Nordea Investment Management AB grew its holdings in shares of Zscaler by 463.5% in the fourth quarter. Nordea Investment Management AB now owns 29,803 shares of the company’s stock worth $6,629,000 after purchasing an additional 24,514 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Zscaler by 1.5% in the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock worth $1,343,810,000 after purchasing an additional 129,090 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Zscaler by 272.6% in the third quarter. AQR Capital Management LLC now owns 41,894 shares of the company’s stock worth $6,518,000 after purchasing an additional 30,650 shares during the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Zscaler by 19,012.4% in the fourth quarter. International Assets Investment Management LLC now owns 223,997 shares of the company’s stock worth $49,629,000 after purchasing an additional 222,825 shares during the last quarter. 46.45% of the stock is currently owned by 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.