Mizuho Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS) had its target price lifted by Mizuho from $210.00 to $225.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on the company. Susquehanna lifted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Wells Fargo & Company raised their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Zscaler from $200.00 to $225.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a report on Tuesday, December 3rd. Finally, BMO Capital Markets upped their target price on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.63.

Zscaler Stock Up 0.9 %

Shares of NASDAQ ZS opened at $211.14 on Wednesday. Zscaler has a 1-year low of $153.45 and a 1-year high of $255.00. The business has a 50-day moving average of $194.59 and a 200-day moving average of $188.86.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the prior year, the business earned ($0.18) EPS. Zscaler’s quarterly revenue was up 26.4% compared to the same quarter last year. Analysts anticipate that Zscaler will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the transaction, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. This represents a 1.65 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Proem Advisors LLC bought a new stake in shares of Zscaler in the 4th quarter worth approximately $3,608,000. ExodusPoint Capital Management LP increased its holdings in shares of Zscaler by 33.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 32,551 shares of the company’s stock valued at $5,873,000 after buying an additional 8,228 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in shares of Zscaler by 12.6% in the fourth quarter. Motley Fool Asset Management LLC now owns 6,911 shares of the company’s stock valued at $1,247,000 after buying an additional 776 shares in the last quarter. Westpac Banking Corp lifted its position in shares of Zscaler by 763.5% during the 4th quarter. Westpac Banking Corp now owns 4,784 shares of the company’s stock valued at $863,000 after acquiring an additional 4,230 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of Zscaler by 12.1% during the 4th quarter. Trexquant Investment LP now owns 86,158 shares of the company’s stock worth $15,544,000 after acquiring an additional 9,329 shares in the last quarter. 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.