Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, Scotiabank Analyst Says

Zscaler (NASDAQ:ZS) had its price objective boosted by Scotiabank from $205.00 to $225.00 in a report released on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other equities analysts have also commented on ZS. Loop Capital dropped their target price on Zscaler from $200.00 to $195.00 and set a “hold” rating on the stock in a report on Tuesday, December 3rd. Citigroup increased their price objective on Zscaler from $230.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and issued a $240.00 price target (down from $270.00) on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Canaccord Genuity Group boosted their price objective on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $225.47.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $192.70 on Tuesday. The company has a market cap of $29.57 billion, a price-to-earnings ratio of -770.80 and a beta of 0.87. The stock’s 50-day moving average is $195.21 and its two-hundred day moving average is $187.91. Zscaler has a 1-year low of $153.45 and a 1-year high of $259.61.

Zscaler (NASDAQ:ZS) last issued its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter last year, the company earned ($0.18) earnings per share. The firm’s revenue was up 26.4% compared to the same quarter last year. Equities research analysts anticipate that Zscaler will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares in the company, valued at $28,618,917.12. This trade represents a 2.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,248 shares of company stock valued at $2,052,879 over the last quarter. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently made changes to their positions in the business. Fred Alger Management LLC increased its position in Zscaler by 1,151.0% during the third quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after buying an additional 9,542 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after acquiring an additional 14,701 shares during the last quarter. Creative Planning increased its position in Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after purchasing an additional 10,551 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Zscaler by 11.0% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock valued at $65,036,000 after purchasing an additional 37,801 shares during the last quarter. Finally, Strategic Advisors LLC lifted its holdings in Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after purchasing an additional 6,712 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.