Zscaler (NASDAQ:ZS) Price Target Raised to $238.00

Zscaler (NASDAQ:ZS) had its price objective hoisted by BTIG Research from $205.00 to $238.00 in a research note released on Wednesday morning,Benzinga reports. BTIG Research currently has a buy rating on the stock.

A number of other analysts have also issued reports on ZS. Wedbush dropped their price target on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Susquehanna restated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Robert W. Baird decreased 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. JMP Securities restated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average target price of $221.13.

Zscaler Price Performance

Shares of ZS stock opened at $206.59 on Wednesday. The company’s fifty day moving average price is $189.44 and its two-hundred day moving average price is $184.50. The firm has a market capitalization of $31.70 billion, a P/E ratio of -512.39 and a beta of 0.82. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $592.90 million during the quarter, compared to the consensus estimate of $567.46 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Zscaler’s revenue for the quarter was up 30.3% on a year-over-year basis. On average, sell-side analysts anticipate that Zscaler will post -0.95 EPS for the current year.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the sale, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction dated 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 transaction, the chief financial officer now directly owns 231,793 shares in the company, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quest Partners LLC purchased a new stake in shares of Zscaler during the second quarter valued at $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler during the 3rd quarter worth about $31,000. True Wealth Design LLC raised its holdings in 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 buying an additional 185 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Zscaler during the third quarter valued at about $38,000. Finally, Asset Dedication LLC boosted its holdings 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. 46.45% of the stock is owned by institutional investors and hedge funds.

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.