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

Zscaler (NASDAQ:ZS) had its target price upped by analysts at Oppenheimer from $230.00 to $250.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target indicates a potential upside of 21.15% from the company’s previous close.

Other research analysts have also issued reports about the stock. Wells Fargo & Company cut their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Scotiabank increased their target price on shares of Zscaler from $195.00 to $205.00 and gave the stock a “sector outperform” rating in a research note on Tuesday. KeyCorp increased their target price on shares of Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, BNP Paribas started coverage on shares of Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Stock Performance

NASDAQ:ZS opened at $206.36 on Tuesday. The firm’s fifty day moving average is $191.28 and its 200-day moving average is $185.15. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61. The firm has a market cap of $31.66 billion, a P/E ratio of -834.32 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock worth $5,256,651. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC boosted its position in Zscaler by 278.9% during the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after purchasing an additional 25,099 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Zscaler during the third quarter worth about $38,000. Sanctuary Advisors LLC boosted its position in Zscaler by 48.1% during the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock worth $1,899,000 after purchasing an additional 3,608 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in Zscaler by 103.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after purchasing an additional 20,900 shares during the period. Finally, Coldstream Capital Management Inc. boosted its position in Zscaler by 50.1% during the third quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock worth $397,000 after purchasing an additional 761 shares during the period. 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.