On September 3, 2023, Rosenblatt Securities reaffirmed its “buy” rating for &Zscaler (NASDAQ:ZS) stock in a note to investors. The firm also set a target price of $185.00, suggesting a potential upside of 18.55% from the current price.
As of Friday, ZS stock opened at $156.05. The company’s 50-day and 200-day simple moving averages are $146.58 and $129.23 respectively. Zscaler has a quick ratio and current ratio of 1.96, indicating its ability to meet short-term financial obligations. Additionally, the company has a debt-to-equity ratio of 1.90.
Over the past year, Zscaler shares have ranged between a low of $84.93 and a high of $194.21. With a market cap of $22.77 billion and a P/E ratio of -82.57, the company’s performance is closely watched by investors in the tech industry.
Institutional investors and hedge funds have shown interest in ZS stock recently. Mirae Asset Global Investments Co., Ltd., for example, increased its position by 14.1% during the first quarter, acquiring an additional 68,982 shares worth $134,476,000.
AlphaCrest Capital Management LLC also entered into a new position with Zscaler during the same period, investing approximately $244,000.
D.A Davidson & CO experienced a significant growth spurt as well after purchasing an additional 332 shares worth $273,000 during Q1.
MetLife Investment Management LLC joined in on the action by acquiring a new stake in Zscaler valued at about $1,232,000 during Q1.
Lastly, Dimensional Fund Advisors LP increased its holdings by 1.8%, adding an extra 2,153 shares worth approximately $29,338,000 during the first quarter.
In terms of financial performance, Zscaler reported earnings per share (EPS) of $0.48 for the quarter ending June 1st. This surpassed analysts’ estimates by $0.06. The company’s revenue for the quarter stood at $418.80 million, exceeding analyst predictions of $411.55 million.
Despite a negative net margin of 18.20% and a negative return on equity of 39.82%, Zscaler demonstrated strong growth with a 46.0% increase in quarterly revenue compared to the same period last year.
For the current fiscal year, equities analysts forecast that Zscaler will post an EPS of -1.14, indicating some potential challenges ahead.
With valuable insights from Rosenblatt Securities and notable activity in institutional investments, shareholders and stakeholders will keep a close eye on Zscaler as it navigates future opportunities and challenges in the tech industry landscape
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Analysts Express Diverse Opinions on Zscaler Inc. (ZS) as Company’s Stocks and Trading Activities are Disclosed
September 3, 2023 – In recent financial news, several research analysts have expressed their opinions regarding Zscaler Inc. (ZS), a leading cloud security company. The analysts’ assessments vary, with some raising their price targets and others maintaining a hold rating on the stock.
UBS Group increased their price target for Zscaler from $170.00 to $175.00, while Royal Bank of Canada raised their target price from $155.00 to $162.00. Similarly, Scotiabank adjusted their target price from $138.00 to $150.00, and Loop Capital increased theirs from $125.00 to $135.00. These revisions reflect the analysts’ optimism about the company’s future performance.
Adding to this positive sentiment is Robert W. Baird, which reaffirmed its “outperform” rating on Zscaler and set a target price of $185.00 for investors to consider.
The diverse opinions from these research analysts collectively contribute towards shaping investor perception of the cloud security company’s outlook.
According to Bloomberg.com data, Zscaler received an average rating of “Moderate Buy” based on evaluations by stock market experts across various financial institutions and had a consensus target price of approximately $172.42 as of the reference date.
In other developments relating to Zscaler’s stocks and trading activities, Chief Operating Officer Dali Rajic sold 22,000 shares of Zscaler stock on Thursday, July 6th at an average price of $141.50 per share for a total transaction value amounting to $3,113,000. This sale reduced Rajic’s direct ownership stake in the company to 306,406 shares valued at around $43,356,449.
Another notable transaction involved Director Andrew William Fraser Brown who sold 5,632 shares of Zscaler stock on Friday, June 9th at an average price of $150.85. The sale amounted to $849,587.20 and diminished Brown’s ownership position to 23,145 shares valued at approximately $3,491,423.
The company also disclosed that over the past three months, insiders have sold a total of 114,611 shares of Zscaler stock amounting to $17,137,481 in value. These insider transactions indicate an active movement of shares by those within the company and represent approximately 19.80% of the company’s outstanding stock.
For further details on these transactions and other financial information about Zscaler Inc., interested readers are encouraged to access the official filing with the Securities and Exchange Commission (SEC), which is available on their website.
It should be noted that individual insider sales do not necessarily reflect a negative sentiment towards a company’s future performance but may be driven by various factors such as personal financial planning or diversification of investments.
As Zscaler continues to make strides in the cloud security industry, investors will monitor these developments closely as they assess the company’s potential for growth and profitability in the foreseeable future.