KeyCorp Increases Zscaler (NASDAQ:ZS) Price Target to $245.00

Zscaler (NASDAQ:ZS) had its target price lifted by KeyCorp from $220.00 to $245.00 in a research report sent to investors on Friday morning,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

ZS has been the subject of a number of other reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $270.00 target price on shares of Zscaler in a research report on Monday, November 4th. Piper Sandler reduced their price target 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. Citigroup dropped their price objective on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Finally, Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Ten analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $218.55.

Zscaler Stock Down 0.3 %

Shares of ZS opened at $210.42 on Friday. The business has a 50-day simple moving average of $187.27 and a two-hundred day simple moving average of $183.96. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market cap of $32.09 billion, a PE ratio of -526.04 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, equities research analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares in the company, valued at $39,701,505.04. This represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were 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 owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds have recently bought and sold shares of ZS. Tidal Investments LLC increased its stake in Zscaler by 278.9% in the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after acquiring an additional 25,099 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Zscaler during the third quarter valued at approximately $38,000. Sanctuary Advisors LLC grew its stake in Zscaler by 48.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock worth $1,899,000 after buying an additional 3,608 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Zscaler by 103.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after buying an additional 20,900 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in shares of Zscaler by 50.1% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after buying an additional 761 shares in the last quarter. Hedge funds and other 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.