BTIG Research Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its price objective upped by research analysts at BTIG Research from $205.00 to $238.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective points to a potential upside of 16.12% from the company’s current price.

ZS has been the subject of a number of other research reports. BNP Paribas started coverage on Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target for the company. Needham & Company LLC dropped their target price on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Morgan Stanley upped their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $220.48.

Zscaler Stock Performance

Shares of Zscaler stock opened at $204.96 on Wednesday. The company has a market capitalization of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82. The company has a 50-day simple moving average of $188.79 and a two-hundred day simple moving average of $184.36. Zscaler has a one year low of $153.45 and a one year high of $259.61.

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, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. On average, equities analysts predict that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 over the last quarter. 19.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in Zscaler in the 2nd quarter valued at about $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the third quarter valued at approximately $31,000. True Wealth Design LLC lifted its stake in Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after acquiring an additional 185 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the 3rd quarter worth approximately $38,000. Finally, Asset Dedication LLC increased its position in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. 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.