Zscaler (NASDAQ:ZS) Price Target Raised to $222.00

Zscaler (NASDAQ:ZS) had its price objective hoisted by BMO Capital Markets from $197.00 to $222.00 in a research note released on Tuesday morning, Marketbeat.com reports. BMO Capital Markets currently has an outperform rating on the stock.

Other research analysts have also issued reports about the stock. Scotiabank decreased their price objective on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Royal Bank of Canada reissued an “outperform” rating and set a $230.00 price objective on shares of Zscaler in a report on Wednesday, September 4th. Jefferies Financial Group raised their price objective on shares of Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. BTIG Research raised their price objective on shares of Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Finally, Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $224.84.

Zscaler Trading Down 0.4 %

ZS opened at $205.61 on Tuesday. The company has a fifty day simple moving average of $191.98 and a 200 day simple moving average of $185.29. The firm has a market cap of $31.55 billion, a price-to-earnings ratio of -825.44 and a beta of 0.82. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to analyst estimates 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 was up 26.4% on a year-over-year basis. During the same period last year, the business earned ($0.18) EPS. On average, analysts forecast that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total value of $1,392,800.00. Following the completion of the sale, the director now directly owns 25,907 shares in the company, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $260,739.50. Following the completion of the sale, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. The trade was a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock worth $5,256,651 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Institutional investors and hedge funds have recently modified their holdings of the company. Quest Partners LLC acquired a new stake in shares of Zscaler in the second quarter worth $28,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the 3rd quarter valued at $31,000. True Wealth Design LLC raised 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 purchasing an additional 185 shares during the last quarter. Asset Dedication LLC raised its stake in 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 purchasing an additional 166 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Zscaler during the 3rd quarter valued at $38,000. 46.45% of the stock is currently 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.