Zscaler, Inc. (NASDAQ:ZS) Receives $225.21 Average Target Price from Analysts

Zscaler, Inc. (NASDAQ:ZS) has been assigned a consensus rating of “Moderate Buy” from the thirty-four research firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $225.21.

A number of research analysts recently commented on ZS shares. Barclays increased their price target on Zscaler from $205.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, May 31st. Royal Bank of Canada increased their price target on Zscaler from $215.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, May 31st. Morgan Stanley reduced their target price on Zscaler from $214.00 to $202.00 and set an “equal weight” rating on the stock in a report on Friday, May 24th. KeyCorp raised Zscaler from a “sector weight” rating to an “overweight” rating and set a $220.00 target price on the stock in a report on Thursday, April 18th. Finally, Canaccord Genuity Group reduced their target price on Zscaler from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 4,689 shares of the firm’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $180.93, for a total value of $848,380.77. Following the completion of the sale, the chief financial officer now owns 251,467 shares of the company’s stock, valued at $45,497,924.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Zscaler by 1.3% during the first quarter. Vanguard Group Inc. now owns 8,961,774 shares of the company’s stock worth $1,726,307,000 after acquiring an additional 118,002 shares in the last quarter. 1832 Asset Management L.P. bought a new position in Zscaler during the fourth quarter valued at about $217,683,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Zscaler by 19.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 619,293 shares of the company’s stock valued at $119,294,000 after buying an additional 102,616 shares in the last quarter. Norges Bank bought a new position in Zscaler during the fourth quarter valued at about $117,599,000. Finally, Westfield Capital Management Co. LP raised its holdings in Zscaler by 19.1% during the fourth quarter. Westfield Capital Management Co. LP now owns 412,063 shares of the company’s stock valued at $91,297,000 after buying an additional 65,980 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $198.40 on Tuesday. Zscaler has a 1-year low of $131.59 and a 1-year high of $259.61. The business has a 50-day moving average of $178.72 and a 200-day moving average of $202.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $29.99 billion, a price-to-earnings ratio of -389.02 and a beta of 0.85.

Zscaler (NASDAQ:ZS) last issued its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.39. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. The company had revenue of $553.20 million during the quarter, compared to the consensus estimate of $535.55 million. On average, equities analysts anticipate that Zscaler will post -0.34 EPS for the current fiscal year.

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.