Zscaler (NASDAQ:ZS) Price Target Raised to $235.00

Zscaler (NASDAQ:ZS) had its target price lifted by analysts at Stifel Nicolaus from $220.00 to $235.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 13.63% from the company’s previous close.

A number of other brokerages have also recently issued reports on ZS. Susquehanna reissued a “positive” rating and set a $210.00 price objective on shares of Zscaler in a report on Thursday, September 5th. BMO Capital Markets reduced their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Wedbush lowered their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Raymond James began coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating for the company. Finally, Wells Fargo & Company lowered their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $217.18.

Zscaler Stock Performance

NASDAQ ZS traded down $3.03 during trading on Thursday, hitting $206.82. 94,012 shares of the company’s stock traded hands, compared to its average volume of 2,030,222. The stock has a market capitalization of $31.54 billion, a price-to-earnings ratio of -519.36 and a beta of 0.82. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The business has a 50 day moving average of $180.42 and a 200-day moving average of $182.18.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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 company posted ($0.17) EPS. Zscaler’s revenue was up 30.3% compared to the same quarter last year. On average, analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling

In related news, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler 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 transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Zscaler news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 over the last ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new stake in Zscaler during the 2nd quarter valued at $28,000. Asset Dedication LLC raised its position in Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the last quarter. American Capital Advisory LLC bought a new position in Zscaler during the 2nd quarter valued at about $50,000. GAMMA Investing LLC boosted its holdings in shares of Zscaler by 21.3% during the 2nd quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Zscaler by 613.0% in the second quarter. Quarry LP now owns 385 shares of the company’s stock worth $74,000 after acquiring an additional 331 shares during the period. 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.