Zscaler (NASDAQ:ZS) Shares Gap Up to $74.30

Zscaler Inc (NASDAQ:ZS) gapped up before the market opened on Thursday . The stock had previously closed at $72.64, but opened at $74.30. Zscaler shares last traded at $77.50, with a volume of 2,243,218 shares changing hands.

A number of research firms have recently issued reports on ZS. Morgan Stanley set a $43.00 target price on shares of Zscaler and gave the company a “sell” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded shares of Zscaler from a “hold” rating to a “buy” rating and set a $81.00 target price for the company in a research note on Saturday, June 8th. Barclays lifted their target price on shares of Zscaler from $42.00 to $55.00 and gave the company an “equal weight” rating in a research note on Friday, March 1st. Piper Jaffray Companies lifted their target price on shares of Zscaler from $65.00 to $82.00 and gave the company an “overweight” rating in a research note on Friday, May 31st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $65.00 target price on shares of Zscaler in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $72.33.

The stock has a 50-day moving average of $74.94. The company has a market cap of $9.74 billion, a PE ratio of -247.23 and a beta of 1.19.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Thursday, May 30th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). Zscaler had a negative return on equity of 10.95% and a negative net margin of 11.12%. The company had revenue of $79.10 million during the quarter, compared to the consensus estimate of $74.92 million. During the same quarter last year, the firm earned ($0.02) EPS. The business’s revenue for the quarter was up 60.8% on a year-over-year basis. As a group, equities analysts predict that Zscaler Inc will post -0.17 EPS for the current year.

In other Zscaler news, CFO Remo Canessa sold 110,000 shares of Zscaler stock in a transaction on Monday, June 10th. The shares were sold at an average price of $78.19, for a total transaction of $8,600,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Schlossman sold 55,000 shares of Zscaler stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $66.86, for a total transaction of $3,677,300.00. The disclosure for this sale can be found here. Insiders sold a total of 437,813 shares of company stock valued at $32,546,132 in the last 90 days. 27.40% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tortoise Index Solutions LLC acquired a new stake in Zscaler during the 1st quarter worth $25,000. FTB Advisors Inc. acquired a new stake in Zscaler during the 1st quarter worth $26,000. Nisa Investment Advisors LLC acquired a new stake in Zscaler during the 1st quarter worth $28,000. Wealthcare Advisory Partners LLC grew its holdings in Zscaler by 211.1% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 700 shares of the company’s stock worth $50,000 after acquiring an additional 475 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Zscaler by 561.3% during the 4th quarter. Acadian Asset Management LLC now owns 1,230 shares of the company’s stock worth $48,000 after acquiring an additional 1,044 shares during the period. 33.94% of the stock is owned by hedge funds and other institutional investors.

Zscaler Company Profile (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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