Zscaler (NASDAQ:ZS) Given New $222.00 Price Target at BMO Capital Markets

Zscaler (NASDAQ:ZS) had its price objective boosted by BMO Capital Markets from $197.00 to $222.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. BMO Capital Markets currently has an outperform rating on the stock.

Several other analysts have also recently weighed in on ZS. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. BTIG Research increased their price objective on shares of Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a report on Wednesday, November 27th. Piper Sandler lowered 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. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and cut their price target for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and an average target price of $224.38.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $198.64 on Tuesday. The company’s fifty day moving average is $190.79 and its 200-day moving average is $185.01. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61.

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

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $170.22, for a total value of $842,078.34. Following the sale, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction dated 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 owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last three months. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in Zscaler by 11.8% in the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock valued at $1,757,000 after acquiring an additional 963 shares during the period. Tidal Investments LLC boosted its stake in Zscaler by 7.4% in the 1st quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock valued at $951,000 after purchasing an additional 341 shares during the period. Cetera Investment Advisers grew its holdings in Zscaler by 895.1% in the 1st quarter. Cetera Investment Advisers now owns 31,395 shares of the company’s stock valued at $6,048,000 after buying an additional 28,240 shares in the last quarter. Cetera Advisors LLC increased its position in Zscaler by 146.7% during the 1st quarter. Cetera Advisors LLC now owns 8,079 shares of the company’s stock worth $1,556,000 after buying an additional 4,804 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after buying an additional 67 shares in the last quarter. Institutional investors own 46.45% of the company’s stock.

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.