Zscaler (NASDAQ:ZS) Price Target Raised to $225.00

Zscaler (NASDAQ:ZS) had its target price hoisted by Scotiabank from $205.00 to $225.00 in a research report report published on Tuesday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

ZS has been the topic of a number of other reports. Citigroup lifted their price objective on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JPMorgan Chase & Co. increased their price objective on shares of Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Barclays boosted their price objective on shares of Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Jefferies Financial Group lifted their price target on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, BTIG Research upped their price objective on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $225.47.

Zscaler Trading Down 0.1 %

ZS stock opened at $192.70 on Tuesday. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The stock has a market capitalization of $29.57 billion, a PE ratio of -770.80 and a beta of 0.87. The stock’s 50 day simple moving average is $195.21 and its 200 day simple moving average is $187.91.

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 the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.18) EPS. On average, research analysts predict that Zscaler will post -0.16 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Syam Nair sold 3,682 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 value of $737,578.24. Following the completion of the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock valued at $2,052,879. Corporate insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after buying an additional 60,414 shares during the period. Champlain Investment Partners LLC grew its position in Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares during the period. Westfield Capital Management Co. LP increased its stake in Zscaler by 33.8% during the third quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock worth $68,293,000 after acquiring an additional 100,814 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in Zscaler by 11.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Zscaler by 4.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 355,070 shares of the company’s stock valued at $60,696,000 after purchasing an additional 16,634 shares during the last quarter. 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.