BTIG Research Raises Zscaler (NASDAQ:ZS) Price Target to $238.00

Zscaler (NASDAQ:ZS) had its target price raised by stock analysts at BTIG Research from $205.00 to $238.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 16.12% from the stock’s current price.

Other research analysts have also issued research reports about the company. Barclays lifted their price target on Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. UBS Group cut their target price on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. KeyCorp increased their price target on shares of Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Piper Sandler decreased their target price on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $220.48.

Zscaler Trading Down 2.5 %

Shares of NASDAQ:ZS opened at $204.96 on Wednesday. The firm has a 50 day simple moving average of $188.79 and a 200-day simple moving average of $184.36. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61. The company has a market capitalization of $31.45 billion, a PE ratio of -512.39 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $592.90 million during the quarter, compared to analysts’ expectations of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. Zscaler’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, equities research analysts predict that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock worth $5,256,651 over the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC raised its holdings in Zscaler by 278.9% in the 3rd quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock valued at $5,829,000 after acquiring an additional 25,099 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Zscaler in the third quarter valued at $38,000. Sanctuary Advisors LLC increased its stake in Zscaler by 48.1% in the third quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after purchasing an additional 3,608 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position in Zscaler by 103.8% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock worth $7,013,000 after buying an additional 20,900 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in Zscaler by 50.1% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock valued at $397,000 after buying an additional 761 shares during the period. 46.45% of the stock is currently owned by hedge funds and other institutional investors.

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.