Zscaler (NASDAQ:ZS) Shares Gap Up to $172.96

Zscaler, Inc. (NASDAQ:ZS) shares gapped up before the market opened on Thursday . The stock had previously closed at $172.96, but opened at $178.36. Zscaler shares last traded at $175.73, with a volume of 260,207 shares trading hands.

Wall Street Analysts Forecast Growth

ZS has been the subject of a number of research reports. Barclays decreased their target price on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating for the company in a research note on Friday, March 1st. Wedbush boosted their target price on shares of Zscaler from $250.00 to $260.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. JMP Securities reiterated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research note on Friday, March 1st. Morgan Stanley boosted their target price on shares of Zscaler from $195.00 to $214.00 and gave the company an “equal weight” rating in a research note on Monday, February 26th. Finally, Truist Financial restated a “buy” rating and issued a $260.00 price objective on shares of Zscaler in a research note on Monday, April 1st. Five equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.24.

Zscaler Trading Up 2.0 %

The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.98 and a current ratio of 1.98. The stock’s fifty day moving average is $209.32 and its 200 day moving average is $202.81. The stock has a market cap of $26.43 billion, a P/E ratio of -182.06 and a beta of 0.80.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The firm had revenue of $525.00 million during the quarter, compared to the consensus estimate of $507.56 million. As a group, equities research analysts predict that Zscaler, Inc. will post -0.81 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, Director Karen Blasing sold 7,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $236.24, for a total value of $1,653,680.00. Following the sale, the director now directly owns 39,539 shares of the company’s stock, valued at approximately $9,340,693.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Karen Blasing sold 7,000 shares of the stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $236.24, for a total value of $1,653,680.00. Following the sale, the director now directly owns 39,539 shares of the company’s stock, valued at approximately $9,340,693.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Syam Nair sold 2,893 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $558,782.95. Following the completion of the sale, the insider now directly owns 137,294 shares in the company, valued at $26,518,336.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,715 shares of company stock valued at $5,865,882. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Institutional investors have recently modified their holdings of the stock. Jones Financial Companies Lllp purchased a new position in shares of Zscaler during the fourth quarter worth approximately $29,000. GAMMA Investing LLC purchased a new position in shares of Zscaler during the fourth quarter worth approximately $37,000. Parkside Financial Bank & Trust increased its position in shares of Zscaler by 582.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 157 shares of the company’s stock worth $35,000 after acquiring an additional 134 shares during the period. Quadrant Capital Group LLC increased its position in shares of Zscaler by 66.7% during the fourth quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares during the period. Finally, BluePath Capital Management LLC purchased a new position in shares of Zscaler during the third quarter worth approximately $32,000. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Company Profile

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.