Zscaler (NASDAQ:ZS) Price Target Raised to $250.00

Zscaler (NASDAQ:ZS) had its price target upped by equities research analysts at Robert W. Baird from $240.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 27.26% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Mizuho boosted their price objective on shares of Zscaler from $210.00 to $225.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Loop Capital dropped their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 target price on shares of Zscaler in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer lifted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Nine analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and a consensus target price of $229.52.

Zscaler Stock Performance

ZS opened at $196.45 on Thursday. Zscaler has a one year low of $153.45 and a one year high of $217.84. The stock has a market cap of $30.14 billion, a price-to-earnings ratio of -785.80 and a beta of 0.89. The stock’s 50 day moving average price is $195.83 and its 200-day moving average price is $191.54.

Zscaler (NASDAQ:ZS) last released its earnings results 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. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same period last year, the company earned ($0.18) earnings per share. As a group, analysts predict that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 over the last 90 days. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its holdings in Zscaler by 42.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,883 shares of the company’s stock worth $664,000 after buying an additional 1,165 shares during the last quarter. Van ECK Associates Corp grew its holdings 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 worth $2,728,000 after buying an additional 14,274 shares in the last quarter. Asset Management One Co. Ltd. grew its stake in Zscaler by 0.8% during the 3rd quarter. Asset Management One Co. Ltd. now owns 76,866 shares of the company’s stock valued at $13,139,000 after acquiring an additional 630 shares in the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Zscaler by 4.8% in the third quarter. Malaga Cove Capital LLC now owns 7,007 shares of the company’s stock valued at $1,198,000 after purchasing an additional 321 shares during the last quarter. Finally, BNC Wealth Management LLC acquired a new stake in shares of Zscaler in the 3rd quarter worth $578,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.