Rosenblatt Securities reiterated their hold rating on shares of Zscaler (NASDAQ:ZS) in a report issued on Wednesday, AnalystRatings.com reports. They currently have a $50.00 price objective on the stock.
Other research analysts also recently issued research reports about the company. UBS Group lowered their price objective on Zscaler from $70.00 to $53.00 and set a neutral rating for the company in a research note on Thursday, September 12th. Piper Jaffray Companies lowered their price objective on Zscaler from $82.00 to $70.00 and set an overweight rating for the company in a research note on Wednesday, September 11th. Berenberg Bank assumed coverage on Zscaler in a research note on Friday, May 31st. They issued a hold rating and a $78.00 price objective for the company. Credit Suisse Group reaffirmed an outperform rating and issued a $70.00 price objective (down previously from $78.00) on shares of Zscaler in a research note on Wednesday, September 11th. Finally, Cowen lowered their price objective on Zscaler from $85.00 to $70.00 and set an outperform rating for the company in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $66.56.
ZS stock opened at $51.45 on Wednesday. The company has a market cap of $6.53 billion, a PE ratio of -428.75 and a beta of 1.29. Zscaler has a 52 week low of $30.72 and a 52 week high of $89.54. The business has a 50-day simple moving average of $70.08 and a 200 day simple moving average of $71.99.
Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $86.11 million during the quarter, compared to the consensus estimate of $82.15 million. Zscaler had a negative return on equity of 9.78% and a negative net margin of 9.46%. As a group, analysts anticipate that Zscaler will post -0.22 EPS for the current fiscal year.
In related news, Director Karen Blasing sold 1,000 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $47.02, for a total value of $47,020.00. Also, insider Manoj Apte sold 95,544 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $84.91, for a total value of $8,112,641.04. The disclosure for this sale can be found here. Insiders have sold a total of 170,561 shares of company stock worth $14,152,448 over the last 90 days. Company insiders own 27.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. CSat Investment Advisory L.P. purchased a new stake in Zscaler in the 2nd quarter valued at $25,000. Tortoise Index Solutions LLC purchased a new stake in Zscaler in the 1st quarter valued at $25,000. Meadow Creek Investment Management LLC purchased a new stake in Zscaler in the 2nd quarter valued at $32,000. Neuburgh Advisers LLC purchased a new stake in Zscaler in the 2nd quarter valued at $44,000. Finally, Wealthcare Advisory Partners LLC raised its position in Zscaler by 211.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock valued at $50,000 after buying an additional 475 shares during the last quarter. Institutional investors own 33.45% of the company’s stock.
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.
See Also: What is the definition of market timing?
Receive News & Ratings for Zscaler Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Zscaler and related companies with MarketBeat.com's FREE daily email newsletter.