Stifel Nicolaus Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its target price increased by research analysts at Stifel Nicolaus from $220.00 to $235.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 16.64% from the company’s current price.

Several other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Oppenheimer lowered their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Rosenblatt Securities reiterated a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Loop Capital dropped their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Finally, BTIG Research lowered their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $217.18.

Zscaler Stock Down 3.4 %

Shares of NASDAQ ZS opened at $201.47 on Thursday. The stock has a market cap of $30.72 billion, a PE ratio of -503.66 and a beta of 0.82. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The business has a 50-day moving average price of $182.23 and a 200 day moving average price of $182.52.

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, 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 company had revenue of $592.90 million for the quarter, compared to the consensus estimate of $567.46 million. During the same period last year, the firm posted ($0.17) EPS. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. Sell-side analysts anticipate that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler 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 approximately $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction 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 sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,502 shares of company stock valued at $5,256,651. 19.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Zscaler

Hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System grew its stake in shares of Zscaler by 6.9% during 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Zscaler by 9.1% in the 1st 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 in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Zscaler by 7.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after acquiring an additional 14,701 shares during the last quarter. Creative Planning increased its holdings in Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after purchasing an additional 10,551 shares during the period. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Zscaler during the second quarter worth about $25,287,000. Institutional investors own 46.45% of the company’s stock.

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.