Zscaler (NASDAQ:ZS) Given New $225.00 Price Target at Scotiabank

Zscaler (NASDAQ:ZS) had its price target boosted by Scotiabank from $205.00 to $225.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a sector outperform rating on the stock.

Other research analysts have also recently issued research reports about the stock. Jefferies Financial Group raised their price target on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler upped their price target on Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Morgan Stanley cut their price objective on Zscaler from $215.00 to $205.00 and set an “equal weight” rating for the company in a report on Tuesday, December 3rd. Susquehanna increased their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer boosted their price target on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Eleven 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.com, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $225.47.

Zscaler Stock Performance

ZS opened at $191.81 on Tuesday. The stock has a 50-day moving average of $195.86 and a 200-day moving average of $187.84. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The company has a market cap of $29.43 billion, a PE ratio of -767.24 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last released its earnings results 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. The firm had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The business’s revenue was up 26.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS. On average, research analysts predict that Zscaler will post -0.16 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the company’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 $741,784.96. Following the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by company insiders.

Institutional Trading of Zscaler

Large investors have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock worth $277,327,000 after buying an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Zscaler by 11.0% during the third 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Zscaler by 4.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock worth $60,696,000 after purchasing an additional 16,634 shares during the last quarter. 46.45% of the stock is owned by institutional investors and hedge funds.

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.