Rosenblatt Securities Raises Zscaler (NASDAQ:ZS) Price Target to $225.00

Zscaler (NASDAQ:ZS) had its target price boosted by equities researchers at Rosenblatt Securities from $185.00 to $225.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Rosenblatt Securities’ target price suggests a potential upside of 21.91% from the stock’s previous close.

Other analysts have also issued research reports about the company. Scotiabank upped their price objective on Zscaler from $155.00 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, September 6th. Mizuho lifted their target price on Zscaler from $168.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Barclays upgraded shares of Zscaler from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $176.00 to $190.00 in a research note on Monday, October 9th. Stifel Nicolaus boosted their price target on Zscaler from $185.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group raised shares of Zscaler from a “hold” rating to a “buy” rating and lifted their price objective for the company from $170.00 to $225.00 in a research note on Thursday, October 19th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $185.51.

Zscaler Stock Performance

Shares of NASDAQ ZS opened at $184.56 on Thursday. Zscaler has a 12-month low of $84.93 and a 12-month high of $189.54. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 1.56. The company has a market cap of $27.16 billion, a PE ratio of -130.89 and a beta of 0.81. The stock has a 50 day simple moving average of $162.30 and a 200-day simple moving average of $147.85.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.15. The company had revenue of $455.00 million during the quarter, compared to analysts’ expectations of $430.38 million. Zscaler had a negative return on equity of 31.64% and a negative net margin of 12.51%. The company’s revenue for the quarter was up 43.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.40) earnings per share. On average, equities research analysts forecast that Zscaler will post -1.11 EPS for the current year.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 5,013 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $154.45, for a total transaction of $774,257.85. Following the transaction, the insider now directly owns 130,764 shares in the company, valued at $20,196,499.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert Schlossman sold 5,013 shares of the business’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $154.45, for a total transaction of $774,257.85. Following the completion of the sale, the insider now owns 130,764 shares in the company, valued at $20,196,499.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Amit Sinha sold 3,680 shares of the company’s stock in a transaction on Thursday, October 19th. The shares were sold at an average price of $175.22, for a total value of $644,809.60. Following the transaction, the director now directly owns 40,480 shares in the company, valued at approximately $7,092,905.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 108,578 shares of company stock valued at $16,906,410. 19.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Several institutional investors have recently modified their holdings of ZS. IFP Advisors Inc grew its holdings in Zscaler by 60.5% during the second quarter. IFP Advisors Inc now owns 1,037 shares of the company’s stock valued at $29,000 after purchasing an additional 391 shares during the period. BluePath Capital Management LLC bought a new position in Zscaler during the third quarter worth about $32,000. KB Financial Partners LLC acquired a new position in Zscaler in the first quarter valued at about $39,000. Vestor Capital LLC bought a new position in shares of Zscaler during the 1st quarter valued at about $40,000. Finally, Exchange Traded Concepts LLC bought a new stake in Zscaler during the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds 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.