Zscaler (NASDAQ:ZS) PT Raised to $230.00 at Barclays

Zscaler (NASDAQ:ZS) had its price target upped by Barclays from $210.00 to $230.00 in a research note issued to investors on Monday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also commented on the company. Canaccord Genuity Group lowered their price target on Zscaler from $260.00 to $220.00 and set a buy rating for the company in a research report on Tuesday, June 4th. Rosenblatt Securities restated a neutral rating and set a $190.00 price target on shares of Zscaler in a research report on Tuesday, May 28th. Susquehanna lowered their price target on Zscaler from $275.00 to $210.00 and set a positive rating for the company in a research report on Friday, May 31st. UBS Group lowered their price target on Zscaler from $300.00 to $270.00 and set a buy rating for the company in a research report on Wednesday, May 29th. Finally, Cantor Fitzgerald restated a neutral rating and set a $200.00 price target on shares of Zscaler in a research report on Monday, August 19th. Eight research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $226.18.

Zscaler Price Performance

ZS stock opened at $197.82 on Monday. The business has a fifty day moving average of $187.31 and a two-hundred day moving average of $191.04. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 1.04. The stock has a market cap of $29.90 billion, a price-to-earnings ratio of -387.88 and a beta of 0.85. Zscaler has a 52-week low of $139.51 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, May 30th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.39. The company had revenue of $553.20 million during the quarter, compared to analysts’ expectations of $535.55 million. Zscaler had a negative return on equity of 5.84% and a negative net margin of 3.62%. As a group, research analysts anticipate that Zscaler will post -0.32 earnings per share for the current year.

Insider Transactions at Zscaler

In other news, CFO Remo Canessa sold 7,981 shares of Zscaler stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $177.21, for a total transaction of $1,414,313.01. Following the sale, the chief financial officer now owns 243,486 shares in the company, valued at $43,148,154.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new position in Zscaler in the 2nd quarter valued at about $28,000. Jones Financial Companies Lllp acquired a new position in Zscaler in the 4th quarter valued at about $29,000. GAMMA Investing LLC acquired a new position in Zscaler during the 4th quarter worth approximately $37,000. Quadrant Capital Group LLC increased its position in Zscaler by 66.7% during the 4th quarter. Quadrant Capital Group LLC now owns 175 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the period. Finally, Asset Dedication LLC increased its position in Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after purchasing an additional 166 shares during the period. Institutional investors and hedge funds 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.