Zscaler’s (ZS) Outperform Rating Reaffirmed at Royal Bank of Canada

Zscaler (NASDAQ:ZS)‘s stock had its “outperform” rating reaffirmed by equities researchers at Royal Bank of Canada in a research report issued on Tuesday,Benzinga reports. They currently have a $230.00 price objective on the stock. Royal Bank of Canada’s target price would suggest a potential upside of 16.04% from the stock’s current price.

Other analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday. BTIG Research lifted their target price on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Susquehanna boosted their price target on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $265.00 to $195.00 in a research report on Wednesday, September 4th. Finally, Barclays boosted their price objective on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and a consensus price target of $223.44.

Zscaler Stock Performance

Shares of ZS traded down $10.30 during trading hours on Tuesday, hitting $198.21. 2,179,472 shares of the company were exchanged, compared to its average volume of 2,023,167. The company has a market cap of $30.41 billion, a PE ratio of -495.51 and a beta of 0.82. The firm’s 50 day moving average is $190.12 and its 200-day moving average is $184.80. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. As a group, equities analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently modified their holdings of the business. Champlain Investment Partners LLC lifted its position in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Zscaler by 13,498.6% in the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares during the period. GuoLine Advisory Pte Ltd bought a new stake in shares of Zscaler in the third quarter valued at about $32,660,000. Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler during the second quarter worth about $25,287,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares in the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.