Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, BMO Capital Markets Analyst Says

Zscaler (NASDAQ:ZS) had its target price boosted by analysts at BMO Capital Markets from $197.00 to $222.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ target price indicates a potential upside of 7.58% from the stock’s current price.

A number of other analysts have also commented on ZS. Robert W. Baird decreased their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Barclays upped their target price on shares of Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Susquehanna reiterated a “positive” rating and issued a $210.00 target price on shares of Zscaler in a research note on Thursday, September 5th. Finally, BTIG Research upped their target price on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $224.84.

Zscaler Trading Up 3.9 %

ZS opened at $206.36 on Tuesday. The company’s 50 day moving average is $191.28 and its 200-day moving average is $185.15. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61. The company 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 results on Monday, December 2nd. The company reported $0.77 earnings per share 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 the consensus estimate of $605.51 million. During the same period last year, the company posted ($0.18) EPS. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities analysts forecast that Zscaler will post -0.95 EPS for the current year.

Insider Activity

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. The trade was a 0.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last three months. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in shares of Zscaler by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after acquiring an additional 60,414 shares during the period. Champlain Investment Partners LLC grew its stake in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after acquiring an additional 283,540 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Zscaler by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock valued at $95,335,000 after acquiring an additional 25,181 shares during the period. Westfield Capital Management Co. LP grew its stake in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after acquiring an additional 100,814 shares during the period. Finally, Federated Hermes Inc. boosted its stake in Zscaler by 18.3% in the 2nd quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 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.