Shares of Zscaler, Inc. (NASDAQ:ZS – Get Free Report) gapped down before the market opened on Wednesday . The stock had previously closed at $168.42, but opened at $161.05. Zscaler shares last traded at $168.6460, with a volume of 414,590 shares.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on ZS shares. Evercore set a $155.00 target price on Zscaler and gave the stock an “in-line” rating in a research report on Wednesday, May 27th. HC Wainwright upgraded Zscaler from a “buy” rating to a “buy” rating in a report on Monday, May 18th. KeyCorp lifted their price objective on Zscaler from $185.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, August 21st. Weiss Ratings reissued a “sell (e+)” rating on shares of Zscaler in a report on Tuesday, June 9th. Finally, Zacks Research upgraded shares of Zscaler from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 27th. Thirty-four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $216.18.
Get Our Latest Report on Zscaler
Zscaler Trading Down 0.3%
Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings results on Tuesday, May 26th. The company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. Zscaler had a negative return on equity of 0.37% and a negative net margin of 2.44%.The company had revenue of $850.48 million for the quarter, compared to analyst estimates of $835.14 million. During the same quarter last year, the firm posted $0.84 earnings per share. Zscaler’s revenue was up 25.4% compared to the same quarter last year. As a group, equities analysts expect that Zscaler, Inc. will post 0.13 earnings per share for the current year.
Insiders Place Their Bets
In other news, CFO Kevin Rubin sold 503 shares of the company’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $147.12, for a total value of $74,001.36. Following the completion of the transaction, the chief financial officer owned 41,398 shares in the company, valued at $6,090,473.76. This represents a 1.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Schlossman sold 3,146 shares of the company’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $126.43, for a total transaction of $397,748.78. Following the completion of the transaction, the insider owned 69,366 shares of the company’s stock, valued at $8,769,943.38. This trade represents a 4.34% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 16,269 shares of company stock valued at $2,052,589 in the last quarter. 17.20% of the stock is owned by company insiders.
Institutional Investors Weigh In On Zscaler
Several institutional investors have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its holdings in Zscaler by 89.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 60,933 shares of the company’s stock valued at $8,601,000 after buying an additional 28,792 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Zscaler by 6.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 193,297 shares of the company’s stock worth $27,284,000 after acquiring an additional 11,941 shares during the period. Oxbow Advisors LLC bought a new stake in shares of Zscaler during the 4th quarter worth approximately $2,939,000. Qsemble Capital Management LP boosted its position in shares of Zscaler by 105.5% during the 4th quarter. Qsemble Capital Management LP now owns 15,773 shares of the company’s stock worth $3,548,000 after acquiring an additional 8,099 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Zscaler by 44.3% during the 1st quarter. Bank of America Corp DE now owns 779,245 shares of the company’s stock worth $109,320,000 after acquiring an additional 239,326 shares in the last quarter. 46.45% of the stock is owned by institutional investors.
About Zscaler
Zscaler is a cloud security company that delivers a cloud-native platform to protect users, applications and data as organizations move away from traditional, network-centric security architectures. The company focuses on a zero trust approach that assumes no implicit trust for users or devices, providing secure access to the internet, SaaS applications and private applications regardless of where users are located. Zscaler positions its services as an alternative to legacy appliances and site-centric VPNs, aiming to simplify security while enabling modern, distributed workforces.
Key offerings are built around the Zscaler Zero Trust Exchange, a multi-tenant cloud platform that enforces security and access policies in-line.
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