Wedbush Raises Zscaler (NASDAQ:ZS) Price Target to $240.00

Zscaler (NASDAQ:ZS) had its price objective upped by Wedbush from $230.00 to $240.00 in a research report report published on Thursday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also recently weighed in on ZS. Deutsche Bank Aktiengesellschaft upped their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd. Loop Capital reduced their price target on shares of Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Jefferies Financial Group boosted their price target on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Piper Sandler boosted their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Citigroup restated a “buy” rating and issued a $240.00 price target (up from $235.00) on shares of Zscaler in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Zscaler has a consensus rating of “Moderate Buy” and a consensus target price of $232.84.

Zscaler Stock Up 2.9 %

NASDAQ ZS opened at $202.16 on Thursday. The stock has a market cap of $31.02 billion, a P/E ratio of -808.64 and a beta of 0.89. The company’s 50-day simple moving average is $196.01 and its 200 day simple moving average is $191.57. Zscaler has a twelve month low of $153.45 and a twelve month high of $217.84.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Research analysts anticipate that Zscaler will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Large investors have recently made changes to their positions in the stock. Global X Japan Co. Ltd. increased its position in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new position in Zscaler in the fourth quarter valued at $27,000. Colonial Trust Co SC bought a new position in Zscaler in the fourth quarter valued at $28,000. Stonebridge Financial Group LLC bought a new position in Zscaler in the fourth quarter valued at $29,000. Finally, Elequin Capital LP bought a new position in Zscaler in the fourth quarter valued at $30,000. Institutional investors own 46.45% of the company’s stock.

About Zscaler

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.