Zscaler (NASDAQ:ZS) Price Target Raised to $250.00

Zscaler (NASDAQ:ZS) had its price target upped by Oppenheimer from $230.00 to $250.00 in a research note published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also recently commented on ZS. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada restated an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Tuesday. Piper Sandler upped their price target on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America lowered shares of Zscaler from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $265.00 to $195.00 in a research note on Wednesday, September 4th. Finally, Susquehanna increased their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $224.84.

Zscaler Stock Performance

Shares of ZS stock opened at $205.61 on Tuesday. The company has a market capitalization of $31.55 billion, a price-to-earnings ratio of -825.44 and a beta of 0.82. The company has a 50-day simple moving average of $191.98 and a 200 day simple moving average of $185.29. Zscaler has a 52 week low of $153.45 and a 52 week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data 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. The firm 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 0.80%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) EPS. Sell-side analysts forecast that Zscaler will post -0.95 EPS for the current year.

Insider Transactions at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of Zscaler stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its position in Zscaler by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after acquiring an additional 60,414 shares during the period. Champlain Investment Partners LLC boosted its position in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Zscaler by 5.3% in the second quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after buying an additional 25,181 shares during the period. Westfield Capital Management Co. LP boosted its position in shares of Zscaler by 33.8% in the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after buying an additional 100,814 shares during the period. Finally, Federated Hermes Inc. boosted its position in shares of Zscaler by 18.3% in the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after buying an additional 61,037 shares during the period. Hedge funds and other institutional investors 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.