Zscaler (NASDAQ:ZS) Price Target Raised to $225.00

Zscaler (NASDAQ:ZS) had its price target hoisted by Mizuho from $210.00 to $225.00 in a research report sent to investors on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other analysts have also weighed in on the stock. KeyCorp increased their target price on shares of Zscaler from $245.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Piper Sandler lifted their price objective on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Oppenheimer lifted their price objective on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Loop Capital cut their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

Zscaler Trading Down 1.0 %

Zscaler stock opened at $212.70 on Wednesday. The firm has a 50-day moving average of $194.79 and a 200-day moving average of $189.26. The firm has a market cap of $32.64 billion, a P/E ratio of -850.80 and a beta of 0.89. Zscaler has a 1-year low of $153.45 and a 1-year high of $255.00.

Zscaler (NASDAQ:ZS) last posted its earnings results 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 company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.18) earnings per share. Research analysts forecast that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently modified their holdings of the business. Corebridge Financial Inc. grew its position in shares of Zscaler by 0.5% during the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock valued at $2,110,000 after acquiring an additional 54 shares during the period. Erste Asset Management GmbH grew its position in shares of Zscaler by 0.6% during the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock valued at $1,805,000 after acquiring an additional 56 shares during the period. KRS Capital Management LLC grew its position in shares of Zscaler by 1.9% during the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock valued at $588,000 after acquiring an additional 60 shares during the period. Ironwood Investment Management LLC grew its position in shares of Zscaler by 1.0% during the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock valued at $1,127,000 after acquiring an additional 64 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Zscaler by 16.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock valued at $88,000 after acquiring an additional 69 shares during the period. Institutional investors 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.