Recent Investment Analysts’ Ratings Updates for Zscaler (ZS)

Zscaler (NASDAQ: ZS) has recently received a number of price target changes and ratings updates:

• 9/5/2024 – Zscaler had its “positive” rating reaffirmed by analysts at Susquehanna. They now have a $210.00 price target on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Needham & Company LLC from $290.00 to $235.00. They now have a “strong-buy” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Scotiabank from $210.00 to $195.00. They now have a “sector outperform” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at JPMorgan Chase & Co. from $230.00 to $220.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Piper Sandler from $255.00 to $215.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Barclays PLC from $230.00 to $200.00. They now have an “overweight” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Wedbush from $260.00 to $220.00. They now have an “outperform” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Oppenheimer Holdings Inc. from $260.00 to $230.00. They now have an “outperform” rating on the stock.
• 9/4/2024 – Zscaler had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $230.00 price target on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at BMO Capital Markets from $208.00 to $197.00. They now have an “outperform” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Robert W. Baird from $260.00 to $225.00. They now have an “outperform” rating on the stock.
• 9/4/2024 – Zscaler had its “neutral” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $190.00 price target on the stock.
• 9/4/2024 – Zscaler was downgraded by analysts at Bank of America Co. from a “buy” rating to a “neutral” rating. They now have a $195.00 price target on the stock, down previously from $265.00.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Cantor Fitzgerald from $200.00 to $170.00. They now have a “neutral” rating on the stock.
• 9/4/2024 – Zscaler had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $270.00 price target on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Loop Capital from $180.00 to $165.00. They now have a “hold” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at Wells Fargo & Company from $182.00 to $180.00. They now have an “equal weight” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at UBS Group AG from $270.00 to $250.00. They now have a “buy” rating on the stock.
• 9/4/2024 – Zscaler had its price target lowered by analysts at BTIG Research from $220.00 to $205.00. They now have a “buy” rating on the stock.
• 9/4/2024 – Zscaler had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $220.00 price target on the stock.
• 8/26/2024 – Zscaler had its price target raised by analysts at Barclays PLC from $210.00 to $230.00. They now have an “overweight” rating on the stock.
• 8/26/2024 – Zscaler had its price target raised by analysts at Morgan Stanley from $202.00 to $215.00. They now have an “equal weight” rating on the stock.
• 8/19/2024 – Zscaler had its “neutral” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $200.00 price target on the stock.

Zscaler Trading Up 1.2 %

NASDAQ:ZS traded up $2.08 during midday trading on Monday, hitting $174.79. 1,534,560 shares of the company traded hands, compared to its average volume of 2,150,038. The firm’s fifty day moving average is $181.28 and its 200-day moving average is $182.83. The firm has a market capitalization of $26.42 billion, a P/E ratio of -342.73 and a beta of 0.82. Zscaler, Inc. has a 12-month low of $146.59 and a 12-month high of $259.61.

Zscaler (NASDAQ:ZS) last released its earnings results on Tuesday, September 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.17) EPS. On average, research analysts expect that Zscaler, Inc. will post -0.92 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $1,448,172.40. Following the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at $61,906,072.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The disclosure for this sale can be found here. Insiders sold a total of 16,120 shares of company stock valued at $2,761,034 in the last three months. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently made changes to their positions in ZS. Sierra Summit Advisors LLC acquired a new stake in Zscaler in the fourth quarter valued at approximately $5,609,000. State Board of Administration of Florida Retirement System boosted its position in shares of Zscaler by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after purchasing an additional 6,683 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Zscaler by 9.1% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after buying an additional 9,689 shares during the last quarter. Wealthcare Advisory Partners LLC increased its position in Zscaler by 40.0% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 2,438 shares of the company’s stock valued at $470,000 after buying an additional 696 shares in the last quarter. Finally, Norden Group LLC purchased a new stake in Zscaler in the first quarter valued at about $846,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.