OTR Global downgraded shares of Zscaler (NASDAQ:ZS) from a mixed rating to a negative rating in a research report report published on Monday morning, BenzingaRatingsTable reports.
Other research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Zscaler from a buy rating to a hold rating in a report on Thursday, August 1st. Berenberg Bank began coverage on shares of Zscaler in a report on Friday, May 31st. They set a hold rating and a $78.00 price objective on the stock. BMO Capital Markets began coverage on shares of Zscaler in a report on Thursday, August 1st. They set a market perform rating and a $100.00 price objective on the stock. Needham & Company LLC restated a strong-buy rating and set a $89.00 price objective (up previously from $65.00) on shares of Zscaler in a report on Friday, May 31st. Finally, Morgan Stanley boosted their price objective on shares of Zscaler from $43.00 to $52.00 and gave the stock an underweight rating in a report on Friday, May 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $74.25.
Zscaler stock opened at $72.54 on Monday. The firm has a market cap of $9.02 billion, a price-to-earnings ratio of -234.00 and a beta of 1.12. Zscaler has a fifty-two week low of $30.72 and a fifty-two week high of $89.54. The firm has a fifty day moving average price of $82.47 and a two-hundred day moving average price of $70.37.
Zscaler (NASDAQ:ZS) last released its earnings results on Thursday, May 30th. The company reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.01). The firm had revenue of $79.10 million for the quarter, compared to analyst estimates of $74.92 million. Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The firm’s revenue was up 60.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. Analysts forecast that Zscaler will post -0.17 earnings per share for the current year.
In related news, insider Robert Schlossman sold 1,213 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $77.80, for a total value of $94,371.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Amit Sinha sold 4,807 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $79.42, for a total transaction of $381,771.94. The disclosure for this sale can be found here. In the last three months, insiders sold 424,906 shares of company stock worth $34,188,967. 27.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. CSat Investment Advisory L.P. bought a new stake in Zscaler in the second quarter valued at about $25,000. Tortoise Index Solutions LLC bought a new stake in Zscaler during the first quarter worth about $25,000. FTB Advisors Inc. bought a new stake in Zscaler during the first quarter worth about $26,000. Nisa Investment Advisors LLC bought a new stake in Zscaler during the first quarter worth about $28,000. Finally, Meadow Creek Investment Management LLC bought a new stake in Zscaler during the second quarter worth about $32,000. 33.59% of the stock is currently owned by institutional investors and hedge funds.
Zscaler Company Profile
Zscaler, Inc operates as a cloud security company worldwide. The company's flagship services include Zscaler Internet Access solution that connect users to externally managed applications, including software-as-a-service applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to internally managed applications, either hosted internally in data centers, and private or public clouds.
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