DA Davidson started coverage on shares of Zscaler (NASDAQ:ZS) in a research report report published on Monday morning, The Fly reports. The firm issued a buy rating on the stock.
ZS has been the subject of several other reports. BMO Capital Markets decreased their price target on shares of Zscaler from $100.00 to $60.00 and set a market perform rating for the company in a research note on Wednesday, September 11th. They noted that the move was a valuation call. Wedbush decreased their price target on shares of Zscaler from $90.00 to $80.00 and set an outperform rating for the company in a research note on Wednesday, September 11th. Rosenblatt Securities reaffirmed a hold rating and set a $50.00 price target on shares of Zscaler in a research note on Wednesday, September 18th. Robert W. Baird decreased their price target on shares of Zscaler from $80.00 to $70.00 and set an outperform rating for the company in a research note on Wednesday, September 11th. Finally, ValuEngine raised shares of Zscaler from a sell rating to a hold rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $63.58.
ZS stock traded up $1.71 during mid-day trading on Monday, hitting $46.22. 3,049,436 shares of the company were exchanged, compared to its average volume of 2,478,618. The firm has a market cap of $5.84 billion, a P/E ratio of -385.17 and a beta of 1.14. The firm’s 50 day simple moving average is $45.25 and its 200 day simple moving average is $66.26. Zscaler has a 1-year low of $30.72 and a 1-year high of $89.54.
Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.06. The company had revenue of $86.11 million during the quarter, compared to analysts’ expectations of $82.15 million. Zscaler had a negative net margin of 9.46% and a negative return on equity of 9.46%. On average, equities research analysts forecast that Zscaler will post -0.24 EPS for the current fiscal year.
In other news, Director Karen Blasing sold 1,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $47.02, for a total value of $47,020.00. Also, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $72.24, for a total transaction of $347,257.68. The disclosure for this sale can be found here. Insiders sold 17,421 shares of company stock valued at $1,161,189 over the last three months. 27.40% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. CSat Investment Advisory L.P. bought a new stake in shares of Zscaler during the 2nd quarter worth about $25,000. Meadow Creek Investment Management LLC bought a new stake in shares of Zscaler during the 2nd quarter worth about $32,000. Neuburgh Advisers LLC bought a new stake in shares of Zscaler during the 2nd quarter worth about $44,000. Valeo Financial Advisors LLC bought a new stake in shares of Zscaler during the 2nd quarter worth about $54,000. Finally, Tyers Asset Management LLC bought a new stake in shares of Zscaler during the 2nd quarter worth about $56,000. 36.85% of the stock is 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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