Mizuho Increases Zscaler (NASDAQ:ZS) Price Target to $225.00

Zscaler (NASDAQ:ZS) had its price objective raised by equities research analysts at Mizuho from $210.00 to $225.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target would suggest a potential upside of 4.73% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity Group boosted their price target on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group upped their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Scotiabank upped their target price on Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Loop Capital dropped their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Finally, Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.63.

Zscaler Stock Performance

Shares of Zscaler stock opened at $214.84 on Wednesday. The company has a market capitalization of $32.97 billion, a PE ratio of -859.36 and a beta of 0.89. The company has a 50-day simple moving average of $194.77 and a two-hundred day simple moving average of $189.04. Zscaler has a one year low of $153.45 and a one year high of $255.00.

Zscaler (NASDAQ:ZS) last announced its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.18) earnings per share. On average, equities analysts predict that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

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

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently made changes to their positions in ZS. Truist Financial Corp raised its position in shares of Zscaler by 137.3% during the 2nd quarter. Truist Financial Corp now owns 2,572 shares of the company’s stock worth $494,000 after acquiring an additional 1,488 shares in the last quarter. CWM LLC grew its stake in Zscaler by 107.3% during the 3rd quarter. CWM LLC now owns 5,562 shares of the company’s stock worth $951,000 after buying an additional 2,879 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Zscaler during the 3rd quarter worth approximately $138,000. Creative Planning grew its stake in Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the last quarter. Finally, Swedbank AB grew its stake in Zscaler by 25.8% during the 3rd quarter. Swedbank AB now owns 11,363 shares of the company’s stock worth $1,942,000 after buying an additional 2,327 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.