Zscaler (NASDAQ:ZS) Coverage Initiated by Analysts at Raymond James

Raymond James started coverage on shares of Zscaler (NASDAQ:ZS) in a report released on Tuesday, Marketbeat.com reports. The firm issued a market perform rating on the stock.

Several other brokerages have also recently issued reports on ZS. Citigroup lowered their price objective on shares of Zscaler from $270.00 to $240.00 and set a buy rating on the stock in a research note on Wednesday, June 5th. BMO Capital Markets reissued an outperform rating and issued a $208.00 target price on shares of Zscaler in a research report on Friday, June 14th. Rosenblatt Securities reissued a neutral rating and issued a $190.00 target price on shares of Zscaler in a research report on Tuesday, May 28th. Sanford C. Bernstein dropped their target price on shares of Zscaler from $280.00 to $270.00 and set an outperform rating on the stock in a research report on Friday, May 31st. Finally, Barclays lifted their target price on shares of Zscaler from $205.00 to $210.00 and gave the stock an overweight rating in a research report on Friday, May 31st. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $225.21.

Zscaler Stock Down 0.4 %

ZS stock opened at $181.36 on Tuesday. Zscaler has a 52 week low of $131.59 and a 52 week high of $259.61. The company has a market capitalization of $27.41 billion, a price-to-earnings ratio of -355.61 and a beta of 0.85. The firm’s 50-day moving average is $184.39 and its two-hundred day moving average is $199.45. The company has a current ratio of 1.75, a quick ratio of 1.75 and a debt-to-equity ratio of 1.04.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, May 30th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.39. Zscaler had a negative net margin of 3.62% and a negative return on equity of 5.84%. The company had revenue of $553.20 million for the quarter, compared to the consensus estimate of $535.55 million. On average, analysts forecast that Zscaler will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, CFO Remo Canessa sold 7,981 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $177.21, for a total value of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares of the company’s stock, valued at approximately $43,148,154.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently made changes to their positions in ZS. Raymond James & Associates grew its holdings in shares of Zscaler by 51.5% in the 4th quarter. Raymond James & Associates now owns 29,172 shares of the company’s stock worth $6,463,000 after purchasing an additional 9,912 shares during the last quarter. LaFleur & Godfrey LLC grew its holdings in shares of Zscaler by 2.8% in the 4th quarter. LaFleur & Godfrey LLC now owns 54,022 shares of the company’s stock worth $11,969,000 after purchasing an additional 1,462 shares during the last quarter. Ocean Capital Management LLC bought a new stake in shares of Zscaler in the 4th quarter worth about $526,000. SeaCrest Wealth Management LLC bought a new stake in shares of Zscaler in the 4th quarter worth about $214,000. Finally, Traynor Capital Management Inc. acquired a new position in Zscaler during the 4th quarter worth about $993,000. Institutional investors 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.