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

Zscaler (NASDAQ:ZS) had its target price hoisted by KeyCorp from $245.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. KeyCorp’s price objective suggests a potential upside of 21.15% from the stock’s current price.

ZS has been the subject of several other reports. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price objective (down from $270.00) on shares of Zscaler in a research report on Tuesday. BNP Paribas started coverage on Zscaler in a report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 target price for the company. Piper Sandler boosted their target price on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday. Stifel Nicolaus boosted their target price on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Finally, Susquehanna boosted their target price on Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a report on Tuesday. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.84.

Zscaler Stock Performance

NASDAQ:ZS opened at $206.36 on Tuesday. The stock has a 50-day simple moving average of $191.28 and a 200-day simple moving average of $185.15. The stock has a market cap of $31.66 billion, a P/E ratio of -834.32 and a beta of 0.82. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.18) EPS. On average, equities research analysts predict that Zscaler will post -0.95 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, 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 owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael J. Rich sold 4,813 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 value of $824,370.64. Following the transaction, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Fred Alger Management LLC lifted its stake in shares of Zscaler by 1,151.0% during the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after purchasing an additional 9,542 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of 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 purchasing an additional 14,701 shares during the period. Creative Planning lifted its stake in shares of Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in shares of Zscaler during the 2nd quarter worth $25,287,000. Finally, Strategic Advisors LLC lifted its stake in shares of Zscaler by 470.0% during the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after purchasing an additional 6,712 shares during the period. Hedge funds and other 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.