Zscaler (ZS) Trading 7.6% Higher

Zscaler Inc (NASDAQ:ZS) traded up 7.6% during trading on Thursday . The company traded as high as $39.15 and last traded at $39.10. 1,759,700 shares changed hands during mid-day trading, an increase of 42% from the average session volume of 1,243,408 shares. The stock had previously closed at $36.35.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of Zscaler from a “buy” rating to a “hold” rating in a research report on Thursday, August 9th. Morgan Stanley increased their target price on shares of Zscaler from $26.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, June 8th. Needham & Company LLC increased their target price on shares of Zscaler from $35.00 to $40.00 and gave the company a “strong-buy” rating in a research report on Thursday, June 7th. Barclays increased their target price on shares of Zscaler from $30.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, June 7th. Finally, Deutsche Bank increased their target price on shares of Zscaler from $29.00 to $35.00 and gave the company a “hold” rating in a research report on Thursday, June 7th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $35.00.

Zscaler (NASDAQ:ZS) last issued its earnings results on Wednesday, June 6th. The company reported ($0.02) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. The business had revenue of $49.20 million during the quarter, compared to analyst estimates of $46.04 million. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. analysts predict that Zscaler Inc will post -0.18 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in Zscaler during the first quarter worth about $114,000. Atlantic Trust Group LLC acquired a new stake in Zscaler during the first quarter worth about $136,000. Point72 Asia Hong Kong Ltd acquired a new stake in Zscaler during the first quarter worth about $209,000. Stevens Capital Management LP acquired a new stake in Zscaler during the second quarter worth about $211,000. Finally, New York State Common Retirement Fund acquired a new stake in Zscaler during the first quarter worth about $238,000. Hedge funds and other institutional investors own 18.18% of the company’s stock.

Zscaler Company Profile (NASDAQ:ZS)

Zscaler, Inc operates as a cloud security company worldwide. The company develops a software-as-a-service based security platform that secures access for users and devices to applications and services. It serves airline and transportation, conglomerate, consumer good and retail, financial service, healthcare, manufacturing, media and communication, public sector and education, technology, and telecommunications service industries.

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