Zscaler (NASDAQ:ZS) Given New $205.00 Price Target at Truist Financial

Zscaler (NASDAQ:ZS) had its price objective upped by Truist Financial from $175.00 to $205.00 in a research note issued to investors on Monday, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Wedbush raised their price target on shares of Zscaler from $160.00 to $185.00 and gave the stock an outperform rating in a research report on Wednesday, September 6th. Mizuho raised their price target on shares of Zscaler from $168.00 to $185.00 and gave the stock a buy rating in a research report on Wednesday, September 6th. Oppenheimer raised their price target on shares of Zscaler from $180.00 to $190.00 and gave the stock an outperform rating in a research report on Wednesday, September 6th. Cantor Fitzgerald raised their price target on shares of Zscaler from $160.00 to $170.00 and gave the stock a neutral rating in a research report on Wednesday, September 6th. Finally, Piper Sandler upgraded shares of Zscaler from a neutral rating to an overweight rating and raised their price target for the stock from $160.00 to $190.00 in a research report on Monday, October 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $185.51.

Zscaler Stock Performance

NASDAQ:ZS opened at $186.18 on Monday. Zscaler has a 1 year low of $84.93 and a 1 year high of $189.54. The firm’s fifty day simple moving average is $162.81 and its 200 day simple moving average is $148.11. 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 firm has a market capitalization of $27.40 billion, a PE ratio of -132.04 and a beta of 0.81.

Zscaler (NASDAQ:ZS) last posted its earnings results on Tuesday, September 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.15. Zscaler had a negative net margin of 12.51% and a negative return on equity of 31.64%. The business had revenue of $455.00 million for the quarter, compared to analyst estimates of $430.38 million. During the same period last year, the business posted ($0.40) EPS. Zscaler’s revenue was up 43.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Zscaler will post -1.11 EPS for the current year.

Insider Buying and Selling at Zscaler

In other Zscaler news, COO Dali Rajic sold 22,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $157.22, for a total value of $3,458,840.00. Following the completion of the sale, the chief operating officer now owns 262,406 shares in the company, valued at approximately $41,255,471.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Dali Rajic sold 22,000 shares of Zscaler stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $157.22, for a total transaction of $3,458,840.00. Following the completion of the sale, the chief operating officer now owns 262,406 shares in the company, valued at approximately $41,255,471.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jagtar Singh Chaudhry sold 2,844 shares of Zscaler stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $154.45, for a total transaction of $439,255.80. Following the sale, the chief executive officer now owns 372,091 shares of the company’s stock, valued at approximately $57,469,454.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,578 shares of company stock worth $16,906,410. 19.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

Institutional investors have recently modified their holdings of the business. Maryland State Retirement & Pension System grew its position in shares of Zscaler by 4.0% during the 2nd quarter. Maryland State Retirement & Pension System now owns 6,662 shares of the company’s stock worth $975,000 after buying an additional 255 shares during the period. Arthur M. Cohen & Associates LLC lifted its position in shares of Zscaler by 0.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 11,828 shares of the company’s stock worth $1,730,000 after purchasing an additional 91 shares in the last quarter. Romano Brothers AND Company bought a new stake in Zscaler during the second quarter worth $223,000. Cambridge Investment Research Advisors Inc. raised its position in Zscaler by 1.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 11,366 shares of the company’s stock worth $1,663,000 after acquiring an additional 154 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Zscaler during the first quarter worth $68,000. 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.