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

Zscaler (NASDAQ:ZS) had its price target upped by research analysts at Scotiabank from $195.00 to $205.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “sector outperform” rating on the stock. Scotiabank’s price target indicates a potential downside of 0.66% from the company’s current price.

ZS has been the subject of a number of other research reports. Oppenheimer reduced their price target on Zscaler from $260.00 to $230.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Stifel Nicolaus increased their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Loop Capital reduced their price target on Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a report on Wednesday, September 4th. KeyCorp increased their price target on Zscaler from $220.00 to $245.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a report 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $206.36 on Tuesday. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61. The business has a 50-day moving average of $191.28 and a 200-day moving average of $185.15. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of -834.32 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million during 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 revenue was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) earnings per share. Research analysts expect that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

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 completion of the transaction, the chief executive officer now directly owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction on Wednesday, October 9th. The shares were 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 ownership of the stock. 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 three months. 18.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ZS. Champlain Investment Partners LLC boosted its stake in 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 purchasing an additional 283,540 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Zscaler by 13,498.6% during the 3rd quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd bought a new position in Zscaler during the 3rd quarter valued at $32,660,000. Massachusetts Financial Services Co. MA bought a new stake in shares of Zscaler during the 2nd quarter worth $25,287,000. Finally, Westfield Capital Management Co. LP grew its holdings in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after acquiring an additional 100,814 shares during the last quarter. 46.45% of the stock is owned by 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.