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

Zscaler (NASDAQ:ZS) had its price target raised by UBS Group from $250.00 to $260.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages also recently issued reports on ZS. Guggenheim restated a “neutral” rating on shares of Zscaler in a research report on Tuesday, December 3rd. JMP Securities restated a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Needham & Company LLC restated a “buy” rating and issued a $240.00 price target on shares of Zscaler in a research report on Wednesday. Susquehanna boosted their price target on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer boosted their price target on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Nine equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.84.

Zscaler Trading Up 2.9 %

Shares of Zscaler stock opened at $202.16 on Thursday. The firm has a market capitalization of $31.02 billion, a PE ratio of -808.64 and a beta of 0.89. The firm’s 50 day moving average is $196.01 and its 200 day moving average is $191.57. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84.

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

Insider Buying and Selling at Zscaler

In other news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the company’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the transaction, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This represents a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 in the last 90 days. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock valued at $173,921,000 after buying an additional 525,956 shares during the period. Natixis purchased a new stake in Zscaler during the fourth quarter valued at about $87,775,000. Greenvale Capital LLP purchased a new stake in Zscaler during the fourth quarter valued at about $72,164,000. Pictet Asset Management Holding SA boosted its position in Zscaler by 25.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after buying an additional 332,307 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in Zscaler by 28.2% during the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after buying an additional 283,540 shares during the period. Institutional investors own 46.45% of the company’s stock.

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.