Zscaler (ZS) Shares Gap Up to $72.05

Zscaler Inc (NASDAQ:ZS) gapped up before the market opened on Wednesday . The stock had previously closed at $74.13, but opened at $72.05. Zscaler shares last traded at $74.73, with a volume of 56382 shares.

ZS has been the topic of a number of recent research reports. Credit Suisse Group reaffirmed an “outperform” rating and set a $75.00 price objective (up from $55.00) on shares of Zscaler in a report on Tuesday, April 9th. Robert W. Baird reaffirmed a “buy” rating and set a $65.00 price objective on shares of Zscaler in a report on Tuesday, April 9th. Bank of America reaffirmed a “neutral” rating and set a $74.00 price objective (up from $62.00) on shares of Zscaler in a report on Tuesday, April 2nd. UBS Group lifted their price objective on Zscaler from $39.00 to $60.00 and gave the company a “neutral” rating in a report on Monday, March 4th. Finally, Morgan Stanley set a $43.00 price objective on Zscaler and gave the company a “sell” rating in a report on Friday, March 1st. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $57.38.

The firm has a market capitalization of $8.99 billion, a P/E ratio of -242.52 and a beta of 1.22.

Zscaler (NASDAQ:ZS) last announced its earnings results on Thursday, February 28th. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.05. The business had revenue of $74.30 million for the quarter, compared to the consensus estimate of $66.20 million. Zscaler had a negative return on equity of 8.93% and a negative net margin of 11.06%. Sell-side analysts forecast that Zscaler Inc will post -0.27 EPS for the current fiscal year.

In related news, EVP Amit Sinha sold 4,807 shares of the business’s stock in a transaction that occurred on Thursday, February 21st. The shares were sold at an average price of $49.60, for a total value of $238,427.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $57.50, for a total transaction of $575,000.00. The disclosure for this sale can be found here. Insiders sold a total of 533,801 shares of company stock worth $32,335,205 over the last three months. 27.40% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Tortoise Index Solutions LLC bought a new position in Zscaler in the 1st quarter worth approximately $25,000. FTB Advisors Inc. bought a new position in Zscaler in the 1st quarter worth approximately $26,000. Nisa Investment Advisors LLC bought a new position in Zscaler in the 1st quarter worth approximately $28,000. Wealthcare Advisory Partners LLC raised its position in Zscaler by 211.1% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock worth $50,000 after purchasing an additional 475 shares during the last quarter. Finally, Mascoma Wealth Management LLC bought a new position in Zscaler in the 4th quarter worth approximately $39,000. Hedge funds and other institutional investors own 30.46% of the company’s stock.

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About Zscaler (NASDAQ:ZS)

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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