Zscaler (NASDAQ:ZS) Coverage Initiated at BNP Paribas

Equities researchers at BNP Paribas started coverage on shares of Zscaler (NASDAQ:ZSGet Free Report) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $180.00 price target on the stock. BNP Paribas’ target price indicates a potential downside of 3.21% from the company’s current price.

ZS has been the topic of several other reports. Cantor Fitzgerald cut their price target on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Barclays cut their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. BTIG Research decreased their price target on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Finally, Oppenheimer decreased their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.97.

Check Out Our Latest Stock Analysis on ZS

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $185.97 on Tuesday. Zscaler has a 52-week low of $152.60 and a 52-week high of $259.61. The business’s 50 day simple moving average is $177.41 and its two-hundred day simple moving average is $180.65. The firm has a market cap of $28.11 billion, a P/E ratio of -364.65 and a beta of 0.82.

Zscaler (NASDAQ:ZSGet Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, equities analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction on 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 sale, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,067 shares of company stock valued at $4,995,912 in the last 90 days. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of ZS. RMB Capital Management LLC grew its stake in shares of Zscaler by 2.5% in the fourth quarter. RMB Capital Management LLC now owns 18,991 shares of the company’s stock worth $4,208,000 after acquiring an additional 468 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Zscaler during the 4th quarter valued at about $210,000. Shariaportfolio Inc. bought a new stake in Zscaler during the 4th quarter valued at about $233,000. C M Bidwell & Associates Ltd. raised its holdings in Zscaler by 68.4% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,315 shares of the company’s stock worth $291,000 after buying an additional 534 shares during the last quarter. Finally, Parkwood LLC bought a new position in shares of Zscaler in the fourth quarter worth approximately $361,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

About Zscaler

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Zscaler (NASDAQ:ZS)

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