Zscaler (NASDAQ:ZS) Price Target Raised to $225.00

Zscaler (NASDAQ:ZS) had its target price hoisted by Susquehanna from $210.00 to $225.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a positive rating on the stock.

A number of other research analysts have also recently issued reports on ZS. Wedbush dropped their target price on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Morgan Stanley lowered their price target on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday. BNP Paribas started coverage on shares of Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 4th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Stock Down 0.4 %

NASDAQ ZS opened at $205.61 on Tuesday. The stock has a market capitalization of $31.55 billion, a P/E ratio of -825.44 and a beta of 0.82. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The firm has a 50-day moving average price of $191.98 and a 200 day moving average price of $185.29.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The company had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period last year, the company posted ($0.18) earnings per share. The firm’s quarterly revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts expect that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 over the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of ZS. Quest Partners LLC purchased a new position in Zscaler during the 2nd quarter valued at about $28,000. Prestige Wealth Management Group LLC purchased a new position in Zscaler during the 3rd quarter valued at about $31,000. True Wealth Design LLC grew its stake in Zscaler by 18,500.0% during the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after acquiring an additional 185 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Zscaler during the 3rd quarter valued at about $38,000. Finally, Asset Dedication LLC lifted its holdings in shares of Zscaler by 436.8% during the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. Hedge funds and other 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.