Zscaler (NASDAQ:ZS) Reaches New 52-Week High – Here’s Why

Zscaler, Inc. (NASDAQ:ZS) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $318.46 and last traded at $315.35, with a volume of 199124 shares traded. The stock had previously closed at $315.45.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ZS. Wall Street Zen raised Zscaler from a “hold” rating to a “buy” rating in a research report on Sunday, June 8th. Oppenheimer boosted their price target on Zscaler from $290.00 to $345.00 and gave the stock an “outperform” rating in a research report on Friday, June 6th. Evercore ISI boosted their price target on Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Royal Bank Of Canada boosted their price target on Zscaler from $288.00 to $304.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Finally, UBS Group upped their target price on Zscaler from $315.00 to $365.00 and gave the company a “buy” rating in a research report on Friday, June 27th. Eight equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.82.

Zscaler Price Performance

The business has a fifty day simple moving average of $276.08 and a 200 day simple moving average of $225.01. The firm has a market cap of $48.21 billion, a price-to-earnings ratio of -1,192.59 and a beta of 1.11.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative return on equity of 0.59% and a negative net margin of 1.52%. The business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the prior year, the firm earned $0.88 earnings per share. The business’s revenue was up 22.6% compared to the same quarter last year. On average, research analysts anticipate that Zscaler, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In related news, insider Robert Schlossman sold 3,174 shares of the stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $305.07, for a total value of $968,292.18. Following the completion of the sale, the insider owned 88,970 shares of the company’s stock, valued at approximately $27,142,077.90. This trade represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Syam Nair sold 4,064 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $303.70, for a total value of $1,234,236.80. Following the completion of the sale, the insider directly owned 106,659 shares of the company’s stock, valued at approximately $32,392,338.30. This represents a 3.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 200,793 shares of company stock valued at $58,752,794. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ORG Partners LLC increased its stake in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock worth $26,000 after acquiring an additional 94 shares during the last quarter. SVB Wealth LLC purchased a new position in shares of Zscaler during the first quarter worth $26,000. Summit Securities Group LLC purchased a new position in shares of Zscaler during the fourth quarter worth $27,000. Colonial Trust Co SC purchased a new position in shares of Zscaler during the fourth quarter worth $28,000. Finally, Goodman Advisory Group LLC purchased a new position in shares of Zscaler during the first quarter worth $29,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Company Profile

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.