Barclays Increases Zscaler (NASDAQ:ZS) Price Target to $250.00

Zscaler (NASDAQ:ZS) had its target price upped by equities researchers at Barclays from $220.00 to $250.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would indicate a potential upside of 25.91% from the company’s previous close.

A number of other equities analysts also recently issued reports on ZS. Royal Bank of Canada restated an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price target on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Loop Capital cut their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research report on Tuesday, December 3rd. Stifel Nicolaus upped their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Oppenheimer increased their price objective on Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $226.56.

Zscaler Stock Down 4.1 %

Shares of Zscaler stock opened at $198.56 on Friday. Zscaler has a 12-month low of $153.45 and a 12-month high of $251.55. The stock has a market cap of $30.47 billion, a P/E ratio of -794.24 and a beta of 0.89. The business’s 50 day moving average is $195.38 and its 200-day moving average is $190.71.

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

Insider Buying and Selling

In other news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was 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. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock valued at $2,052,879 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global X Japan Co. Ltd. raised its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the period. Summit Securities Group LLC purchased a new stake in Zscaler during the 4th quarter worth about $27,000. Colonial Trust Co SC purchased a new stake in Zscaler during the 4th quarter worth about $28,000. Stonebridge Financial Group LLC purchased a new stake in Zscaler during the 4th quarter worth about $29,000. Finally, Elequin Capital LP purchased a new stake in Zscaler during the 4th quarter worth about $30,000. 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.