Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, KeyCorp Analyst Says

Zscaler (NASDAQ:ZS) had its price target hoisted by KeyCorp from $220.00 to $245.00 in a research report released on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

A number of other analysts have also weighed in on ZS. Robert W. Baird lowered their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Needham & Company LLC dropped their price objective on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Wedbush reduced their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Piper Sandler lowered their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Finally, Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and an average price target of $218.55.

Zscaler Trading Up 1.8 %

Shares of ZS stock opened at $210.96 on Friday. The stock has a market capitalization of $32.17 billion, a price-to-earnings ratio of -527.39 and a beta of 0.82. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61. The stock has a fifty day simple moving average of $186.49 and a two-hundred day simple moving average of $183.69.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the business earned ($0.17) EPS. The firm’s quarterly revenue was up 30.3% on a year-over-year basis. Research analysts predict that Zscaler will post -0.95 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the transaction, the director now directly owns 25,907 shares in the company, valued at $4,510,408.70. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of hedge funds have recently bought and sold shares of ZS. Geode Capital Management LLC grew its position in shares of Zscaler by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares during the period. Champlain Investment Partners LLC increased its stake in Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after acquiring an additional 61,037 shares during the last quarter. Hedge funds and other 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.