Zscaler (NASDAQ:ZS) Given New $235.00 Price Target at Citigroup

Zscaler (NASDAQ:ZS) had its target price upped by equities research analysts at Citigroup from $230.00 to $235.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 15.53% from the stock’s previous close.

Several other analysts have also recently issued reports on the company. Robert W. Baird dropped their target price on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft raised their price objective on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday. BNP Paribas began coverage on Zscaler in a research report on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Finally, Loop Capital reduced their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating for the company in a research note on Tuesday. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and a consensus price target of $224.53.

Zscaler Stock Up 2.4 %

NASDAQ:ZS traded up $4.77 during midday trading on Wednesday, hitting $203.41. The stock had a trading volume of 1,427,448 shares, compared to its average volume of 2,045,606. Zscaler has a one year low of $153.45 and a one year high of $259.61. The company has a market capitalization of $31.21 billion, a price-to-earnings ratio of -813.64 and a beta of 0.82. The stock has a 50-day moving average of $191.28 and a 200 day moving average of $185.15.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The company had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. Zscaler’s revenue was up 26.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other news, insider Robert Schlossman sold 4,947 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $170.22, for a total transaction of $842,078.34. Following the completion of the transaction, the insider now directly owns 107,241 shares of the company’s stock, valued at approximately $18,254,563.02. This represents a 4.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Remo Canessa sold 8,455 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the sale, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at $39,701,505.04. This represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,502 shares of company stock valued at $5,256,651 in the last ninety days. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several institutional investors have recently made changes to their positions in ZS. Quest Partners LLC purchased a new position in Zscaler in the 2nd quarter valued at approximately $28,000. Prestige Wealth Management Group LLC acquired a new stake in Zscaler in the third quarter valued at $31,000. True Wealth Design LLC increased its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Zscaler during the 3rd quarter worth $38,000. Finally, Asset Dedication LLC boosted its position in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock worth $39,000 after buying an additional 166 shares in the last quarter. 46.45% of the stock is currently owned by hedge funds and other 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.