Zscaler (NASDAQ:ZS – Get Free Report) had its price objective upped by KeyCorp from $220.00 to $245.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp’s price target would suggest a potential upside of 16.14% from the company’s previous close.
Several other analysts have also recently issued reports on the company. Stifel Nicolaus raised their target price on Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Wedbush dropped their target price on Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. BMO Capital Markets lowered their price objective on Zscaler from $208.00 to $197.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Morgan Stanley increased their price objective on shares of Zscaler from $202.00 to $215.00 and gave the company an “equal weight” rating in a research report on Monday, August 26th. Finally, UBS Group reduced their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $218.55.
Read Our Latest Analysis on Zscaler
Zscaler Stock Performance
Zscaler (NASDAQ:ZS – Get Free Report) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period last year, the firm earned ($0.17) earnings per share. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. As a group, analysts forecast that Zscaler will post -0.95 EPS for the current fiscal year.
Insider Transactions at Zscaler
In related news, Director Andrew William Fraser Brown sold 8,000 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. This trade represents a 23.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 in the last ninety days. Corporate insiders own 19.20% of the company’s stock.
Institutional Trading of Zscaler
Several institutional investors and hedge funds have recently modified their holdings of the stock. Champlain Investment Partners LLC lifted its stake in shares of Zscaler by 28.2% during 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 during the last quarter. International Assets Investment Management LLC lifted its position 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 worth $48,769,000 after acquiring an additional 283,201 shares during the period. GuoLine Advisory Pte Ltd acquired a new position in Zscaler in the 3rd quarter worth approximately $32,660,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Zscaler in the 2nd quarter valued at about $25,287,000. Finally, Westfield Capital Management Co. LP grew its stake in shares of Zscaler by 33.8% during the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after purchasing an additional 100,814 shares during the period. Institutional investors own 46.45% of the company’s stock.
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.
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