Zscaler, Inc. (NASDAQ:ZS) Receives $220.48 Consensus Target Price from Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS) have received a consensus rating of “Moderate Buy” from the thirty-two ratings firms that are presently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $221.13.

ZS has been the subject of several recent research reports. BTIG Research increased their target price on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Jefferies Financial Group increased their price target on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $265.00 to $195.00 in a report on Wednesday, September 4th. Piper Sandler decreased their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Finally, Susquehanna restated a “positive” rating and set a $210.00 price target on shares of Zscaler in a report on Thursday, September 5th.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This represents a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently made changes to their positions in the business. DekaBank Deutsche Girozentrale increased its position in Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after acquiring an additional 14,701 shares during the period. Creative Planning grew its position in Zscaler by 7.6% in the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler during the 2nd quarter worth about $25,287,000. Strategic Advisors LLC raised its position in shares of Zscaler by 470.0% during the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after buying an additional 6,712 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Zscaler by 1,786.5% during the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after buying an additional 14,274 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Stock Performance

Shares of ZS stock opened at $206.59 on Friday. The stock has a market cap of $31.70 billion, a PE ratio of -516.46 and a beta of 0.82. The business’s fifty day moving average is $190.12 and its 200-day moving average is $184.78. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

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

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.