Zscaler (NASDAQ:ZS) Price Target Raised to $238.00

Zscaler (NASDAQ:ZS) had its price objective raised by analysts at BTIG Research from $205.00 to $238.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. BTIG Research’s price target suggests a potential upside of 17.01% from the stock’s previous close.

ZS has been the subject of a number of other research reports. Jefferies Financial Group upped their price objective on shares of Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus increased their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler lowered their price objective 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. JPMorgan Chase & Co. decreased their price objective on shares of Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Finally, 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 research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $220.29.

Zscaler Price Performance

Zscaler stock traded down $6.90 during mid-day trading on Wednesday, hitting $203.40. 698,862 shares of the company were exchanged, compared to its average volume of 2,009,124. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The business’s 50 day simple moving average is $188.06 and its two-hundred day simple moving average is $184.21. The company has a market capitalization of $31.21 billion, a P/E ratio of -508.49 and a beta of 0.82.

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

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $488,490.56. Following the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction that occurred 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 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. In the last 90 days, insiders have sold 30,502 shares of company stock valued at $5,256,651. Company insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Large investors have recently modified their holdings of the stock. Champlain Investment Partners LLC boosted its stake in Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after purchasing an additional 283,540 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Zscaler by 13,498.6% during the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after buying an additional 283,201 shares in the last quarter. GuoLine Advisory Pte Ltd purchased a new stake in Zscaler in the 3rd quarter worth about $32,660,000. Massachusetts Financial Services Co. MA purchased a new position in Zscaler during the 2nd quarter valued at about $25,287,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares during the period. 46.45% of the stock is owned by 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.