Zscaler (NASDAQ:ZS) Coverage Initiated at BNP Paribas

by · The Markets Daily

Equities researchers at BNP Paribas started coverage on shares of Zscaler (NASDAQ:ZS – Get Free Report) in a note issued to investors on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $180.00 price target on the stock. BNP Paribas’ target price indicates a potential downside of 3.21% from the company’s current price.

ZS has been the topic of several other reports. Cantor Fitzgerald cut their price target on shares of Zscaler from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Barclays cut their target price on Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 4th. BTIG Research decreased their price target on Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Wells Fargo & Company cut their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Finally, Oppenheimer decreased their target price on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $216.97.

Check Out Our Latest Stock Analysis on ZS

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $185.97 on Tuesday. Zscaler has a 52-week low of $152.60 and a 52-week high of $259.61. The business’s 50 day simple moving average is $177.41 and its two-hundred day simple moving average is $180.65. The firm has a market cap of $28.11 billion, a P/E ratio of -364.65 and a beta of 0.82.

Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The firm had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, equities analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now owns 107,241 shares of the company’s stock, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Zscaler news, insider Robert Schlossman sold 4,947 shares of the firm’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,067 shares of company stock valued at $4,995,912 in the last 90 days. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently bought and sold shares of ZS. RMB Capital Management LLC grew its stake in shares of Zscaler by 2.5% in the fourth quarter. RMB Capital Management LLC now owns 18,991 shares of the company’s stock worth $4,208,000 after acquiring an additional 468 shares during the last quarter. Garner Asset Management Corp purchased a new stake in Zscaler during the 4th quarter valued at about $210,000. Shariaportfolio Inc. bought a new stake in Zscaler during the 4th quarter valued at about $233,000. C M Bidwell & Associates Ltd. raised its holdings in Zscaler by 68.4% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,315 shares of the company’s stock worth $291,000 after buying an additional 534 shares during the last quarter. Finally, Parkwood LLC bought a new position in shares of Zscaler in the fourth quarter worth approximately $361,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

About Zscaler

(Get Free Report)

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.

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