Zscaler (NASDAQ:ZS) Price Target Raised to $230.00

Zscaler (NASDAQ:ZS) had its price objective boosted by Canaccord Genuity Group from $220.00 to $230.00 in a report issued on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other brokerages also recently commented on ZS. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Jefferies Financial Group lifted their price target on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lifted their price target on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday. Needham & Company LLC decreased their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 4th. Finally, Susquehanna restated a “positive” rating and issued a $210.00 price objective on shares of Zscaler in a report on Thursday, September 5th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Stock Down 0.4 %

NASDAQ:ZS opened at $205.61 on Tuesday. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The firm has a market capitalization of $31.55 billion, a P/E ratio of -825.44 and a beta of 0.82. The stock’s fifty day simple moving average is $191.98 and its 200-day simple moving average is $185.29.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The firm’s revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.18) EPS. As a group, equities research analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insider Transactions at Zscaler

In other news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the completion of the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last quarter. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tidal Investments LLC raised its position in Zscaler by 278.9% during the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after purchasing an additional 25,099 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the third quarter valued at approximately $38,000. Sanctuary Advisors LLC raised its position in Zscaler by 48.1% during the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after purchasing an additional 3,608 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in Zscaler by 103.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock valued at $7,013,000 after purchasing an additional 20,900 shares in the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Zscaler by 50.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after purchasing an additional 761 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

Zscaler Company Profile

Zscaler, Inc operates as a cloud security company worldwide. The company offers Zscaler Internet Access solution that provides users, workloads, IoT, and OT devices secure access to externally managed applications, including software-as-a-service (SaaS) applications and internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds.