Zscaler (NASDAQ:ZS) Downgraded by OTR Global

OTR Global lowered shares of Zscaler (NASDAQ:ZS) from a mixed rating to a negative rating in a report issued on Monday morning, BenzingaRatingsTable reports.

Other analysts also recently issued research reports about the company. Robert W. Baird reissued a buy rating and issued a $80.00 price target (up previously from $65.00) on shares of Zscaler in a research note on Friday, May 31st. Deutsche Bank lifted their price target on Zscaler from $57.00 to $76.00 and gave the company a hold rating in a research note on Wednesday, May 29th. ValuEngine downgraded Zscaler from a buy rating to a hold rating in a research note on Thursday, August 1st. Bank of America set a $77.00 price target on Zscaler and gave the company a neutral rating in a research note on Friday, May 31st. Finally, Wedbush lifted their price target on Zscaler from $87.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, July 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and an average target price of $74.25.

ZS opened at $72.99 on Monday. The business’s 50-day moving average price is $82.64 and its two-hundred day moving average price is $70.25. Zscaler has a 1 year low of $30.72 and a 1 year high of $89.54. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of -235.45 and a beta of 1.12.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.01). Zscaler had a negative net margin of 11.12% and a negative return on equity of 10.95%. The firm had revenue of $79.10 million during the quarter, compared to analyst estimates of $74.92 million. During the same period in the prior year, the business earned ($0.02) EPS. The business’s revenue for the quarter was up 60.8% compared to the same quarter last year. Research analysts expect that Zscaler will post -0.17 EPS for the current year.

In related news, insider Robert Schlossman sold 1,213 shares of Zscaler stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $77.80, for a total transaction of $94,371.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $79.42, for a total value of $381,771.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 424,906 shares of company stock worth $34,188,967. 27.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Mastrapasqua Asset Management Inc. grew its holdings in Zscaler by 0.3% during the second quarter. Mastrapasqua Asset Management Inc. now owns 54,585 shares of the company’s stock worth $4,183,000 after purchasing an additional 175 shares during the period. Tocqueville Asset Management L.P. boosted its holdings in shares of Zscaler by 1.0% during the second quarter. Tocqueville Asset Management L.P. now owns 19,035 shares of the company’s stock worth $1,459,000 after acquiring an additional 185 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of Zscaler by 2.0% during the second quarter. Janney Montgomery Scott LLC now owns 9,547 shares of the company’s stock worth $732,000 after acquiring an additional 190 shares during the period. CSat Investment Advisory L.P. bought a new stake in shares of Zscaler during the second quarter worth approximately $25,000. Finally, Tortoise Index Solutions LLC bought a new stake in shares of Zscaler during the first quarter worth approximately $25,000. Institutional investors and hedge funds own 33.59% of the company’s stock.

About Zscaler

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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Analyst Recommendations for Zscaler (NASDAQ:ZS)

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