Zscaler (NASDAQ:ZS) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Zscaler (NASDAQ:ZS) in a report published on Monday morning, Benzinga reports. JMP Securities currently has a $270.00 target price on the stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Barclays lowered their price objective on Zscaler from $230.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Raymond James assumed coverage on shares of Zscaler in a research note on Tuesday, July 23rd. They set a “market perform” rating for the company. Oppenheimer lowered their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Finally, Needham & Company LLC reduced their price target on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $216.73.

Zscaler Stock Performance

Shares of ZS stock opened at $184.90 on Monday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The stock’s 50-day simple moving average is $179.63 and its 200-day simple moving average is $180.95.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the previous year, the business earned ($0.17) earnings per share. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of Zscaler stock in a transaction dated 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 transaction, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’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 completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the transaction, the insider now owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last quarter. Corporate insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quest Partners LLC bought a new stake in Zscaler during the second quarter valued at about $28,000. Asset Dedication LLC raised its holdings in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC purchased a new position in shares of Zscaler during the second quarter worth $50,000. GAMMA Investing LLC raised its holdings in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Zscaler by 613.0% during the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after purchasing an additional 331 shares during the last quarter. Hedge funds and other 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.