Zscaler (NASDAQ: $ZS) is an American cybersecurity company based in San Jose, CA that helps companies bolster their security with the best possible SASE and CASB solutions. It was established in 2007 and was listed on NASDAQ in March 2018.
Over the past years, Zscaler insiders have sold a significant number of shares, which has led to skepticism about its future.
Past 12 Months of Insider Transactions at Zscaler
In the previous year, the highest sale of stocks by an insider was by Ajay Mangal, worth $11 million, at $198 per share. Even when the price was below the current $253 per share, an insider still offloaded some of their shares. It is considered quite discouraging when insiders start selling stock at a discount; it implies they are content with a lower valuation.
Other insiders, such as Robert Schlossman, sold stocks worth $2M on February 19, 2024. You can monitor more insider transactions at Simplywall.
Over the last three months, 130,503 individuals sold eight shares worth $27.9 million, with zero amount bought by any insider in the previous 12 months. It could signal that insiders at the company think the stock is overpriced.
Analyst Forecast Zscaler FY24 Earnings
Research Analysts at Cantor Fitzgerald released their forecast for Zscaler fiscal year 2024 earnings in a research note issued on February 14. One of the analysts, Cantor Fitzgerald Y. Lee, expects the company to post an EPS of $0.94 for 2024. Cantor Fitzgerald rates the stock as “Neutral” with a target price of $250.00. The consensus estimate for Zscaler’s full-year earnings is $0.94 per share.
Other brokers also predicted ZS earnings. Rosenblatt Securities issued a “buy” rating and forecast a share price of $245.00 on Monday, February 5, 2024. On Tuesday, November 28, 2023, Morgan Stanley increased their target price on Zscaler from $170.00 to $180.00, assigning the stock an “equal weight” rating in a research report.
Additionally, Citigroup predicted the share price of Zscaler to be between $235.00 and $265 in a research report on Wednesday, January 10.
Stock Update: ZS
ZS stock slumped by 14.89% from the previous closing of $249.09 on February 20, driven by insiders selling off their stakes. At the time of writing, the company has a market cap of $31.638 billion with a volume of 6,786,033.
Should you buy ZS Stock?
The company insiders have sold shares without buying any in the last 12 months. While analysts give the stock an overall strong buy rating, the actions of insider transactions are worth noting when deciding whether or not to purchase ZS stock.
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