Zscaler (NASDAQ:ZS) Given New $238.00 Price Target at BTIG Research

Zscaler (NASDAQ:ZS) had its target price increased by BTIG Research from $205.00 to $238.00 in a report published on Wednesday,Benzinga reports. BTIG Research currently has a buy rating on the stock.

Other research analysts also recently issued reports about the stock. Susquehanna reissued a “positive” rating and set a $210.00 price objective on shares of Zscaler in a research report on Thursday, September 5th. JMP Securities reissued a “market outperform” rating and set a $270.00 price target on shares of Zscaler in a report on Monday, November 4th. Wedbush reduced their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. Loop Capital lowered their target price on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research note on Wednesday, September 4th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $230.00 price target on shares of Zscaler in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $220.29.

Zscaler Stock Performance

Shares of ZS stock opened at $204.96 on Wednesday. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61. The firm has a market cap of $31.45 billion, a price-to-earnings ratio of -512.39 and a beta of 0.82. The stock’s 50-day moving average is $188.06 and its two-hundred day moving average is $184.21.

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

Insider Transactions at Zscaler

In other Zscaler news, CFO Remo Canessa sold 8,455 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were 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 owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the completion of the transaction, the director now owns 25,907 shares in the company, valued at approximately $4,510,408.70. This trade represents a 23.59 % 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 over the last quarter. 19.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of Zscaler by 7.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after purchasing an additional 14,701 shares during the period. Creative Planning grew its stake in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after buying an additional 10,551 shares during the period. Massachusetts Financial Services Co. MA acquired a new stake in shares of Zscaler in the second quarter worth $25,287,000. Strategic Advisors LLC raised its stake in shares of Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after acquiring an additional 6,712 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in shares of Zscaler by 1,786.5% during the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after acquiring an additional 14,274 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.