Zscaler (NASDAQ:ZS) Given New $235.00 Price Target at Stifel Nicolaus

Zscaler (NASDAQ:ZS) had its target price lifted by Stifel Nicolaus from $220.00 to $235.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a buy rating on the stock.

ZS has been the subject of several other research reports. Oppenheimer dropped their price objective on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Wedbush dropped their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. JMP Securities reissued a “market outperform” rating and issued a $270.00 price objective on shares of Zscaler in a research report on Monday, November 4th. BMO Capital Markets decreased their target price on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Susquehanna restated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and an average price target of $217.18.

Zscaler Stock Performance

Shares of ZS stock opened at $201.47 on Thursday. Zscaler has a one year low of $153.45 and a one year high of $259.61. The company has a 50 day moving average price of $182.23 and a 200 day moving average price of $182.66. The firm has a market capitalization of $30.72 billion, a price-to-earnings ratio of -503.68 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping 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 analyst estimates of $567.46 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Zscaler’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, equities analysts forecast that Zscaler will post -0.97 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred 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 transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The trade was a 0.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly 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. In the last 90 days, insiders have sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Zscaler by 6.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after buying an additional 6,683 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after purchasing an additional 9,689 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares during the period. Creative Planning boosted its holdings in shares of Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Zscaler during the second quarter worth approximately $25,287,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.