Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, Piper Sandler Analyst Says

Zscaler (NASDAQ:ZS) had its target price increased by research analysts at Piper Sandler from $215.00 to $235.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 13.88% from the stock’s current price.

Several other brokerages also recently weighed in on ZS. BNP Paribas initiated coverage on Zscaler in a report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price target on the stock. Barclays upped their target price on Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. JPMorgan Chase & Co. upped their target price on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, November 29th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $270.00 target price on shares of Zscaler in a research report on Monday, November 4th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Stock Up 3.9 %

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

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

Insider Activity at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,852 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 transaction of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents 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 link. Also, insider Michael J. Rich sold 4,813 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the sale, the insider now owns 103,259 shares in the company, valued at approximately $17,686,201.52. This trade represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 in the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of large investors have recently bought and sold shares of ZS. Fred Alger Management LLC boosted its holdings in shares of Zscaler by 1,151.0% during the third 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 last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Zscaler by 7.1% during the third 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 last quarter. Creative Planning boosted its holdings in shares of Zscaler by 7.6% during the third 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 last quarter. Massachusetts Financial Services Co. MA acquired a new stake in shares of Zscaler during the second quarter worth $25,287,000. Finally, Strategic Advisors LLC boosted its holdings in shares of Zscaler by 470.0% during the third 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 last quarter. Institutional investors and hedge funds 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.