Zscaler, Inc. (NASDAQ:ZS) Receives $230.55 Consensus Price Target from Analysts

Shares of Zscaler, Inc. (NASDAQ:ZS) have been given an average recommendation of “Moderate Buy” by the thirty-three ratings firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, twenty-seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $230.24.

A number of research firms recently commented on ZS. The Goldman Sachs Group lifted their price target on shares of Zscaler from $189.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. Sanford C. Bernstein lowered their price target on shares of Zscaler from $311.00 to $280.00 and set an “outperform” rating on the stock in a report on Friday, March 1st. Oppenheimer lifted their price target on shares of Zscaler from $245.00 to $290.00 and gave the stock an “outperform” rating in a report on Wednesday, January 3rd. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $290.00 price target on shares of Zscaler in a report on Friday, March 1st. Finally, Barclays lowered their price target on shares of Zscaler from $259.00 to $240.00 and set an “overweight” rating on the stock in a report on Friday, March 1st.

Insider Buying and Selling

In related news, CEO Jagtar Singh Chaudhry sold 2,115 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $193.15, for a total value of $408,512.25. Following the completion of the transaction, the chief executive officer now directly owns 367,152 shares in the company, valued at $70,915,408.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $236.24, for a total value of $1,653,680.00. Following the completion of the sale, the director now directly owns 39,539 shares of the company’s stock, valued at $9,340,693.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,115 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $193.15, for a total transaction of $408,512.25. Following the completion of the sale, the chief executive officer now directly owns 367,152 shares of the company’s stock, valued at $70,915,408.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,715 shares of company stock worth $5,865,882. Corporate insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several hedge funds and other institutional investors have recently modified their holdings of ZS. 1832 Asset Management L.P. bought a new position in shares of Zscaler during the fourth quarter valued at about $217,683,000. Renaissance Technologies LLC bought a new position in shares of Zscaler during the first quarter valued at about $168,365,000. Norges Bank bought a new position in Zscaler in the fourth quarter worth about $59,634,000. Polar Capital Holdings Plc bought a new position in Zscaler in the third quarter worth about $61,681,000. Finally, Trivest Advisors Ltd bought a new position in Zscaler in the fourth quarter worth about $72,051,000. 46.45% of the stock is owned by institutional investors.

Zscaler Price Performance

Zscaler stock opened at $169.21 on Thursday. Zscaler has a 52 week low of $84.93 and a 52 week high of $259.61. The company’s 50 day moving average price is $206.08 and its two-hundred day moving average price is $203.02. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.19. The stock has a market cap of $25.36 billion, a P/E ratio of -178.12 and a beta of 0.80.

Zscaler (NASDAQ:ZS) last posted its earnings results on Thursday, February 29th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. Zscaler had a negative net margin of 7.32% and a negative return on equity of 14.60%. The firm had revenue of $525.00 million for the quarter, compared to analysts’ expectations of $507.56 million. On average, equities analysts predict that Zscaler will post -0.81 earnings per share for the current year.

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.