Zscaler (NASDAQ:ZS – Get Free Report) had its price objective increased by Susquehanna from $210.00 to $225.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 9.03% from the stock’s previous close.
Several other research firms also recently commented on ZS. KeyCorp lifted their price objective on Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. BNP Paribas started coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group decreased their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Wedbush dropped their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. 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 MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $224.84.
Get Our Latest Analysis on Zscaler
Zscaler Stock Performance
Zscaler (NASDAQ:ZS – Get Free Report) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping 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 during the quarter, compared to analyst estimates of $605.51 million. During the same period in the previous year, the business earned ($0.18) EPS. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities research analysts forecast that Zscaler will post -0.95 EPS for the current fiscal year.
Insider Buying and Selling
In related news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction that occurred 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 directly owns 25,907 shares in the company, valued at $4,510,408.70. This trade represents a 23.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 18.10% of the company’s stock.
Institutional Trading of Zscaler
Several hedge funds have recently modified their holdings of ZS. Quest Partners LLC purchased a new stake in shares of Zscaler during the 2nd quarter worth approximately $28,000. Prestige Wealth Management Group LLC purchased a new stake in shares of Zscaler during the 3rd quarter worth approximately $31,000. True Wealth Design LLC raised its holdings 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 acquiring an additional 185 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Zscaler during the 3rd quarter valued at approximately $38,000. Finally, Asset Dedication LLC increased 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 purchasing an additional 166 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other institutional investors.
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.
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