Zscaler (NASDAQ:ZS) Shares Gap Up to $172.96

Zscaler, Inc. (NASDAQ:ZS) shares gapped up before the market opened on Thursday . The stock had previously closed at $172.96, but opened at $178.36. Zscaler shares last traded at $175.73, with a volume of 260,207 shares traded.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wedbush lifted their target price on Zscaler from $250.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Truist Financial reissued a “buy” rating and issued a $260.00 price objective on shares of Zscaler in a research note on Monday, April 1st. Cantor Fitzgerald reissued a “neutral” rating and issued a $230.00 price objective on shares of Zscaler in a research note on Wednesday. Rosenblatt Securities boosted their price objective on Zscaler from $285.00 to $290.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $290.00 price objective on shares of Zscaler in a research note on Friday, March 1st. Five analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $230.24.

Zscaler Trading Up 2.0 %

The company has a market capitalization of $26.43 billion, a P/E ratio of -182.06 and a beta of 0.80. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a fifty day moving average price of $209.32 and a 200-day moving average price of $202.81.

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

Insider Activity

In other Zscaler news, Director Karen Blasing sold 7,000 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $250.90, for a total transaction of $1,756,300.00. Following the completion of the transaction, the director now directly owns 40,372 shares of the company’s stock, valued at $10,129,334.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,115 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 $408,512.25. Following the completion of 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 filing with the SEC, which is available through the SEC website. Also, Director Karen Blasing sold 7,000 shares of the stock in a transaction 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 of the company’s stock, valued at $10,129,334.80. The disclosure for this sale can be found here. Insiders sold a total of 26,715 shares of company stock valued at $5,865,882 over the last three months. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several institutional investors have recently made changes to their positions in ZS. Jones Financial Companies Lllp purchased a new stake in shares of Zscaler during the fourth quarter worth $29,000. BluePath Capital Management LLC purchased a new stake in shares of Zscaler during the third quarter worth $32,000. Parkside Financial Bank & Trust lifted its position in shares of Zscaler by 582.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after acquiring an additional 134 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Zscaler in the fourth quarter worth $37,000. Finally, Quadrant Capital Group LLC raised its position in shares of Zscaler by 66.7% in the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after buying an additional 70 shares in the last quarter. Hedge funds and other institutional investors 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.