KeyCorp Raises Zscaler (NASDAQ:ZS) Price Target to $245.00

Zscaler (NASDAQ:ZS) had its price objective lifted by equities researchers at KeyCorp from $220.00 to $245.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. KeyCorp’s price objective points to a potential upside of 16.14% from the company’s previous close.

A number of other equities research analysts have also commented on ZS. Morgan Stanley increased their price objective on shares of Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research note on Wednesday, September 4th. Citigroup cut their price objective on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. BNP Paribas started coverage on Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Finally, Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Ten 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 company. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.55.

Zscaler Stock Up 1.8 %

Shares of ZS opened at $210.96 on Friday. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The firm has a market capitalization of $32.17 billion, a price-to-earnings ratio of -527.39 and a beta of 0.82. The stock’s 50-day moving average price is $186.49 and its 200 day moving average price is $183.60.

Zscaler (NASDAQ:ZS) last issued its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating 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 business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm’s revenue was up 30.3% on a year-over-year basis. Equities research analysts expect that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling

In other news, insider Robert Schlossman sold 1,435 shares of the company’s 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 sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 of the company’s stock, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. 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 ninety days. Company insiders own 19.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ZS. Quest Partners LLC bought a new stake in Zscaler in the second quarter valued at $28,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler in the third quarter valued at approximately $31,000. True Wealth Design LLC raised its stake in shares of Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the period. Asset Dedication LLC grew its position in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after acquiring an additional 166 shares during the period. Finally, American Capital Advisory LLC bought a new stake in shares of Zscaler in the second quarter valued at $50,000. Institutional investors and hedge funds 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.