Brokerages Set Zscaler, Inc. (NASDAQ:ZS) PT at $220.48

Zscaler, Inc. (NASDAQ:ZS) has been assigned an average recommendation of “Moderate Buy” from the thirty-four research firms that are covering the firm, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $224.38.

ZS has been the topic of several research analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Piper Sandler lifted their target price on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America downgraded Zscaler from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $265.00 to $195.00 in a research note on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and set a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research report on Tuesday.

Insiders Place Their Bets

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $170.22, for a total transaction of $842,078.34. Following the sale, the insider now directly owns 107,241 shares in the company, valued at approximately $18,254,563.02. The trade was a 4.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last 90 days. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently added to or reduced their stakes in ZS. Geode Capital Management LLC lifted its holdings in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after acquiring an additional 60,414 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Zscaler by 5.3% during the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after buying an additional 25,181 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after buying an additional 100,814 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares during the period. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Down 4.7 %

Shares of Zscaler stock opened at $198.64 on Friday. The company has a 50-day simple moving average of $190.79 and a two-hundred day simple moving average of $185.01. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the prior year, the firm posted ($0.18) EPS. The firm’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

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.