Zscaler (NASDAQ:ZS) Price Target Raised to $295.00

Zscaler (NASDAQ:ZS) had its price objective hoisted by Stifel Nicolaus from $270.00 to $295.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Jefferies Financial Group cut their target price on Zscaler from $245.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Barclays restated an “overweight” rating on shares of Zscaler in a research note on Wednesday, March 5th. Wells Fargo & Company boosted their target price on Zscaler from $210.00 to $260.00 and gave the company an “equal weight” rating in a research note on Friday. Cantor Fitzgerald boosted their target price on Zscaler from $250.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Roth Capital restated a “neutral” rating on shares of Zscaler in a research note on Wednesday. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $275.12.

Zscaler Price Performance

NASDAQ:ZS opened at $274.03 on Friday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $276.49. The stock has a market capitalization of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. The business’s 50-day simple moving average is $220.62 and its 200-day simple moving average is $206.35.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million for the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the previous year, the business posted $0.88 EPS. Zscaler’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, research analysts expect that Zscaler will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 3,590 shares of the company’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the sale, the insider now directly owns 100,230 shares in the company, valued at approximately $25,057,500. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at approximately $70,979,848.10. The trade was a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,771 shares of company stock valued at $50,165,040 in the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Zscaler

Institutional investors have recently modified their holdings of the stock. SYM FINANCIAL Corp bought a new stake in shares of Zscaler during the 4th quarter valued at $303,000. Mediolanum International Funds Ltd lifted its position in shares of Zscaler by 17.2% during the 4th quarter. Mediolanum International Funds Ltd now owns 53,646 shares of the company’s stock valued at $9,800,000 after acquiring an additional 7,892 shares during the period. Choreo LLC lifted its position in shares of Zscaler by 2.6% during the 4th quarter. Choreo LLC now owns 2,833 shares of the company’s stock valued at $517,000 after acquiring an additional 73 shares during the period. Arlington Capital Management Inc. bought a new stake in shares of Zscaler during the 4th quarter valued at $2,107,000. Finally, DnB Asset Management AS lifted its position in shares of Zscaler by 66.8% during the 4th quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock valued at $120,403,000 after acquiring an additional 267,162 shares during the period. 46.45% of the stock is currently owned by institutional investors.

Zscaler Company Profile

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.