Zscaler Inc (NASDAQ:ZS) saw a significant drop in short interest in the month of September. As of September 28th, there was short interest totalling 5,584,858 shares, a drop of 25.6% from the September 14th total of 7,502,069 shares. Approximately 11.7% of the company’s stock are short sold. Based on an average daily trading volume, of 1,664,524 shares, the days-to-cover ratio is presently 3.4 days.

Several research firms have issued reports on ZS. Zacks Investment Research raised shares of Zscaler from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Thursday, June 21st. Needham & Company LLC lifted their price target on shares of Zscaler to $45.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 17th. Credit Suisse Group lifted their price target on shares of Zscaler from $38.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, September 6th. Morgan Stanley lifted their price target on shares of Zscaler from $31.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, September 6th. Finally, BTIG Research lowered shares of Zscaler from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Monday, September 10th. They noted that the move was a valuation call. Nine investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Zscaler currently has a consensus rating of “Hold” and a consensus target price of $36.71.

NASDAQ:ZS opened at $36.30 on Friday. Zscaler has a 12 month low of $24.76 and a 12 month high of $48.24. The firm has a market cap of $4.88 billion and a PE ratio of -115.45.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Wednesday, September 5th. The company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. The company had revenue of $56.20 million for the quarter, compared to analyst estimates of $50.72 million. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The company’s quarterly revenue was up 53.8% on a year-over-year basis. Research analysts predict that Zscaler will post -0.27 EPS for the current fiscal year.

In other Zscaler news, EVP Amit Sinha sold 4,807 shares of Zscaler stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $42.12, for a total value of $202,470.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Andrew William Fraser Brown sold 35,000 shares of Zscaler stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $40.61, for a total transaction of $1,421,350.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 201,772 shares of company stock worth $8,361,261.

Several large investors have recently bought and sold shares of the company. Optimum Investment Advisors lifted its stake in shares of Zscaler by 240.0% during the third quarter. Optimum Investment Advisors now owns 3,400 shares of the company’s stock worth $139,000 after buying an additional 2,400 shares during the period. BlackRock Inc. acquired a new stake in shares of Zscaler during the first quarter worth $114,000. Atlantic Trust Group LLC acquired a new stake in shares of Zscaler during the first quarter worth $136,000. Stevens Capital Management LP acquired a new stake in shares of Zscaler during the second quarter worth $211,000. Finally, Raymond James & Associates acquired a new stake in shares of Zscaler during the second quarter worth $255,000. Institutional investors and hedge funds own 23.02% of the company’s stock.

Zscaler Company Profile

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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