Zscaler Inc (ZS) Receives $38.13 Consensus Price Target from Brokerages
Zscaler Inc (NASDAQ:ZS) has been assigned a consensus rating of “Hold” from the fifteen analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $38.13.
Several equities research analysts recently issued reports on ZS shares. Morgan Stanley lowered Zscaler from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, January 15th. Wedbush started coverage on Zscaler in a research note on Thursday, October 18th. They set an “outperform” rating and a $48.00 price objective for the company. Robert W. Baird reissued an “outperform” rating on shares of Zscaler in a research note on Thursday, October 18th. Guggenheim started coverage on Zscaler in a research note on Monday, December 10th. They set a “neutral” rating and a $40.00 price objective for the company. Finally, Piper Jaffray Companies started coverage on Zscaler in a research note on Friday, January 11th. They set an “overweight” rating and a $50.00 price objective for the company.
In other Zscaler news, insider Robert Schlossman sold 1,562 shares of Zscaler stock in a transaction dated Tuesday, December 18th. The stock was sold at an average price of $39.16, for a total transaction of $61,167.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Amit Sinha sold 2,884 shares of Zscaler stock in a transaction dated Sunday, November 25th. The stock was sold at an average price of $33.90, for a total value of $97,767.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 244,597 shares of company stock valued at $11,019,171. Corporate insiders own 27.40% of the company’s stock.
Shares of NASDAQ ZS traded up $0.13 during mid-day trading on Monday, hitting $48.59. The company had a trading volume of 1,122,756 shares, compared to its average volume of 1,440,408. The stock has a market cap of $5.94 billion and a PE ratio of -156.74. Zscaler has a 1 year low of $24.76 and a 1 year high of $49.95.
Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, December 4th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $63.30 million during the quarter, compared to the consensus estimate of $58.66 million. Zscaler’s revenue was up 58.6% compared to the same quarter last year. Analysts predict that Zscaler will post -0.27 EPS for the current fiscal year.
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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