KeyCorp Boosts Zscaler (NASDAQ:ZS) Price Target to $250.00

Zscaler (NASDAQ:ZS) had its price target hoisted by KeyCorp from $245.00 to $250.00 in a research report released on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

ZS has been the subject of several other reports. JPMorgan Chase & Co. lifted their target price on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, November 29th. Wells Fargo & Company lowered their target price on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Citigroup decreased their target price on Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Rosenblatt Securities reissued a “neutral” rating and set a $190.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $240.00 price objective (down previously from $270.00) on shares of Zscaler in a research note on Tuesday. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $224.84.

Zscaler Stock Performance

ZS opened at $205.61 on Tuesday. Zscaler has a one year low of $153.45 and a one year high of $259.61. The stock has a market capitalization of $31.55 billion, a PE ratio of -825.44 and a beta of 0.82. The business’s 50 day moving average price is $191.98 and its 200 day moving average price is $185.29.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The company 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 company’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 company posted ($0.18) earnings per share. As a group, equities research analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,852 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 $488,490.56. Following the transaction, the chief executive officer now owns 361,432 shares in the company, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 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 $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock worth $5,256,651 in the last 90 days. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

A number of hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after purchasing an additional 66 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Zscaler by 21.3% in the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after acquiring an additional 67 shares during the period. American Trust lifted its stake in shares of Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after acquiring an additional 70 shares during the period. Valley Brook Capital Group Inc. lifted its stake in shares of Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after acquiring an additional 75 shares during the period. Finally, Swedbank AB lifted its stake in shares of Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after acquiring an additional 76 shares during the period. 46.45% of the stock is owned by institutional investors and hedge funds.

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.