Zscaler (NASDAQ:ZS) Price Target Raised to $220.00

Zscaler (NASDAQ:ZS) had its price objective raised by Barclays from $200.00 to $220.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also commented on ZS. JMP Securities restated a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a research note on Monday, November 4th. Robert W. Baird dropped their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Piper Sandler dropped their price target on Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Needham & Company LLC dropped their price target on Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company dropped their price target on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $218.55.

Zscaler Price Performance

ZS opened at $210.96 on Thursday. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The business has a 50 day simple moving average of $186.49 and a 200-day simple moving average of $183.60. The stock has a market capitalization of $32.17 billion, a P/E ratio of -527.39 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period in the prior year, the business earned ($0.17) earnings per share. The business’s revenue was up 30.3% on a year-over-year basis. Research analysts anticipate that Zscaler will post -0.95 EPS for the current year.

Insider Activity at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler 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 transaction, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of Zscaler 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 transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. 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. 19.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently modified their holdings of ZS. Quest Partners LLC bought a new stake in shares of Zscaler during the 2nd quarter worth $28,000. Prestige Wealth Management Group LLC acquired a new stake in shares of Zscaler in the third quarter worth $31,000. True Wealth Design LLC boosted its position in shares of 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 buying an additional 185 shares during the period. Asset Dedication LLC boosted its position in shares of Zscaler by 436.8% in the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares during the period. Finally, American Capital Advisory LLC acquired a new stake in shares of Zscaler in the second quarter worth $50,000. 46.45% of the stock is owned by institutional investors.

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.