Zscaler (NASDAQ:ZS) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a report issued on Thursday, TheStreetRatingsTable reports.
A number of other brokerages have also issued reports on ZS. Wedbush boosted their price target on shares of Zscaler from $320.00 to $400.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 1st. Truist Securities increased their price target on shares of Zscaler from $325.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, December 1st. Robert W. Baird increased their price target on shares of Zscaler from $325.00 to $415.00 and gave the company an “outperform” rating in a research report on Wednesday, December 1st. UBS Group upped their price objective on shares of Zscaler from $295.00 to $380.00 and gave the company a “neutral” rating in a research note on Wednesday, December 1st. Finally, BMO Capital Markets increased their price target on shares of Zscaler from $315.00 to $415.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 1st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, Zscaler currently has a consensus rating of “Buy” and a consensus target price of $364.85.
ZS opened at $261.53 on Thursday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 2.59 and a current ratio of 2.59. The stock has a market cap of $36.64 billion, a price-to-earnings ratio of -120.52 and a beta of 0.86. The stock’s 50 day moving average price is $322.21 and its 200-day moving average price is $279.82. Zscaler has a one year low of $157.03 and a one year high of $376.11.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, November 30th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Zscaler had a negative return on equity of 45.93% and a negative net margin of 39.13%. The company had revenue of $230.52 million for the quarter, compared to the consensus estimate of $212.33 million. During the same period last year, the firm earned ($0.28) EPS. The firm’s revenue for the quarter was up 61.7% compared to the same quarter last year. As a group, analysts predict that Zscaler will post -2.33 earnings per share for the current fiscal year.
In other Zscaler news, insider Amit Sinha sold 7,000 shares of Zscaler stock in a transaction on Thursday, October 14th. The stock was sold at an average price of $292.61, for a total value of $2,048,270.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 4,730 shares of Zscaler stock in a transaction on Thursday, December 16th. The stock was sold at an average price of $300.01, for a total value of $1,419,047.30. The disclosure for this sale can be found here. Insiders have sold a total of 88,267 shares of company stock worth $27,706,892 over the last quarter. Corporate insiders own 20.30% of the company’s stock.
Several institutional investors have recently made changes to their positions in ZS. Allianz Asset Management GmbH lifted its position in shares of Zscaler by 47.2% in the second quarter. Allianz Asset Management GmbH now owns 3,436,124 shares of the company’s stock worth $742,409,000 after buying an additional 1,102,347 shares in the last quarter. Capital Research Global Investors increased its stake in Zscaler by 21.1% during the third quarter. Capital Research Global Investors now owns 2,626,623 shares of the company’s stock worth $688,753,000 after acquiring an additional 457,984 shares during the last quarter. FMR LLC grew its stake in shares of Zscaler by 43.6% during the second quarter. FMR LLC now owns 1,200,040 shares of the company’s stock valued at $259,281,000 after buying an additional 364,284 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Zscaler by 20.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,773,065 shares of the company’s stock valued at $464,933,000 after buying an additional 300,446 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in shares of Zscaler by 65.8% during the second quarter. Nuveen Asset Management LLC now owns 623,872 shares of the company’s stock valued at $134,794,000 after buying an additional 247,542 shares during the last quarter. Institutional investors and hedge funds own 42.99% of the company’s stock.
About Zscaler
Zscaler, Inc engages in the provision of cloud-based internet security platform. It provides integrated and comprehensive solutions to customers using cloud platform, the Zscaler Zero Trust Exchange. The firm offers Zcaler internet access, private access, digital experience, and cloud protection. The company was founded by Jagtar Singh Chaudhry and K.