Zscaler (NASDAQ:ZS) Price Target Raised to $205.00

Zscaler (NASDAQ:ZS) had its target price raised by Scotiabank from $195.00 to $205.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other analysts have also weighed in on the company. Morgan Stanley lowered their target price on Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a report on Tuesday. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Wedbush lowered their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Jefferies Financial Group upped their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Robert W. Baird reduced their price objective on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Price Performance

Shares of ZS stock opened at $205.61 on Tuesday. The business’s fifty day moving average price is $191.98 and its 200 day moving average price is $185.29. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61. The firm has a market capitalization of $31.55 billion, a PE ratio of -825.44 and a beta of 0.82.

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

Insider Transactions at Zscaler

In other news, insider Michael J. Rich sold 4,813 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % 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 three months. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently bought and sold shares of ZS. Quest Partners LLC acquired a new position in shares of Zscaler in the 2nd quarter worth approximately $28,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the 3rd quarter valued at approximately $31,000. True Wealth Design LLC boosted its position in Zscaler by 18,500.0% during the 3rd 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 period. Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the 3rd quarter worth $38,000. Finally, Asset Dedication LLC boosted 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 acquiring an additional 166 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.