Zscaler (NASDAQ:ZS) Price Target Raised to $250.00 at Royal Bank of Canada

Zscaler (NASDAQ:ZS) had its price target raised by equities research analysts at Royal Bank of Canada from $230.00 to $250.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target points to a potential upside of 19.86% from the company’s previous close.

A number of other analysts have also recently issued reports on the stock. Susquehanna lifted their target price on shares of Zscaler from $210.00 to $225.00 and gave the company a “positive” rating in a research note on Tuesday, December 3rd. Loop Capital dropped their price objective on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a research note on Tuesday, December 3rd. Rosenblatt Securities upgraded shares of Zscaler from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $190.00 to $235.00 in a research note on Thursday. BMO Capital Markets raised their price target on shares of Zscaler from $222.00 to $233.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Piper Sandler upped their price objective on shares of Zscaler from $215.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $231.97.

Zscaler Stock Up 6.2 %

Shares of Zscaler stock traded up $12.13 during midday trading on Thursday, hitting $208.58. The company’s stock had a trading volume of 1,370,078 shares, compared to its average volume of 1,855,209. Zscaler has a 1-year low of $153.45 and a 1-year high of $217.84. The firm has a market capitalization of $32.00 billion, a P/E ratio of -834.31 and a beta of 0.89. The stock has a 50-day simple moving average of $195.83 and a 200-day simple moving average of $191.54.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data 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. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the prior year, the business earned ($0.18) EPS. The company’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, sell-side analysts predict that Zscaler will post -0.1 earnings per share for the current year.

Insider Buying and Selling

In other Zscaler news, insider Syam Nair sold 3,682 shares of the firm’s stock in a transaction dated 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the company’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 transaction, the chief financial officer now owns 220,635 shares in the company, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,248 shares of company stock worth $2,052,879 in the last three months. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in Zscaler by 42.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 3,883 shares of the company’s stock valued at $664,000 after purchasing an additional 1,165 shares during the period. Van ECK Associates Corp lifted its holdings in Zscaler by 1,786.5% in the third quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock valued at $2,728,000 after buying an additional 14,274 shares during the period. Asset Management One Co. Ltd. boosted its stake in Zscaler by 0.8% in the third quarter. Asset Management One Co. Ltd. now owns 76,866 shares of the company’s stock valued at $13,139,000 after acquiring an additional 630 shares during the last quarter. Malaga Cove Capital LLC grew its holdings in Zscaler by 4.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 7,007 shares of the company’s stock worth $1,198,000 after acquiring an additional 321 shares during the period. Finally, BNC Wealth Management LLC bought a new stake in shares of Zscaler during the 3rd quarter valued at $578,000. 46.45% of the stock is 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.