Brokerages Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $224.84

Shares of Zscaler, Inc. (NASDAQ:ZS) have received a consensus rating of “Moderate Buy” from the thirty-four ratings firms that are presently covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $224.84.

A number of equities analysts have commented on the stock. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Wells Fargo & Company boosted their price objective on Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 4th. BTIG Research raised their price objective on Zscaler from $205.00 to $238.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. BNP Paribas initiated coverage on Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 target price on the stock. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Tuesday, December 3rd.

Insider Buying and Selling

In related news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

Several institutional investors have recently bought and sold shares of ZS. Fred Alger Management LLC grew 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 buying an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Zscaler by 7.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after buying an additional 14,701 shares during the last quarter. Creative Planning raised its position in shares of Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after buying an additional 10,551 shares during the period. Nomura Asset Management Co. Ltd. lifted its stake in shares of Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA purchased a new stake in Zscaler in the 2nd quarter valued at about $25,287,000. 46.45% of the stock is owned by institutional investors and hedge funds.

Zscaler Trading Up 0.0 %

NASDAQ:ZS opened at $187.58 on Friday. The stock has a 50-day moving average price of $196.20 and a 200 day moving average price of $187.91. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market capitalization of $28.78 billion, a P/E ratio of -750.32 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. Zscaler’s quarterly revenue was up 26.4% on a year-over-year basis. During the same period last year, the company posted ($0.18) earnings per share. On average, research analysts predict that Zscaler will post -0.16 earnings per share for the current fiscal year.

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.