Analysts Set Zscaler, Inc. (NASDAQ:ZS) Price Target at $224.84

Zscaler, Inc. (NASDAQ:ZS) has received an average recommendation of “Moderate Buy” from the thirty-four research firms that are currently covering the company, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $224.84.

ZS has been the subject of a number of research analyst reports. Cantor Fitzgerald raised Zscaler to a “hold” rating in a report on Monday, November 18th. Wedbush reduced their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. lifted their target price on shares of Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Piper Sandler increased their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research note on Tuesday, December 3rd.

Insider Activity

In other news, insider Robert Schlossman sold 4,947 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the sale, the insider now directly owns 107,241 shares in the company, valued at $18,254,563.02. This represents a 4.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 16,630 shares of company stock worth $3,155,697 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ZS. Tidal Investments LLC boosted its stake in shares of Zscaler by 278.9% in the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after purchasing an additional 25,099 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Zscaler in the 3rd quarter valued at about $38,000. Sanctuary Advisors LLC grew its stake in shares of Zscaler by 48.1% during the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after acquiring an additional 3,608 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Zscaler by 103.8% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after acquiring an additional 20,900 shares in the last quarter. Finally, Coldstream Capital Management Inc. boosted its holdings in Zscaler by 50.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after purchasing an additional 761 shares during the last quarter. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Stock Performance

Shares of ZS stock opened at $187.63 on Tuesday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The firm has a market capitalization of $28.79 billion, a PE ratio of -750.52 and a beta of 0.82. The stock’s 50-day simple moving average is $197.02 and its 200-day simple moving average is $187.98.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. Sell-side analysts forecast that Zscaler will post -0.24 earnings per share for the current 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.