Zscaler (NASDAQ:ZS) Price Target Raised to $225.00 at Mizuho

Zscaler (NASDAQ:ZS) had its price objective boosted by Mizuho from $210.00 to $225.00 in a research note issued to investors on Wednesday,Benzinga reports. Mizuho currently has a neutral rating on the stock.

Several other research firms have also recently weighed in on ZS. Scotiabank lifted their target price on Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research note on Tuesday, January 21st. Barclays boosted their price objective on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley dropped their price objective on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 3rd. Guggenheim reissued a “neutral” rating on shares of Zscaler in a research note on Tuesday, December 3rd. Finally, Piper Sandler upped their price target on shares of Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 3rd. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, Zscaler currently has an average rating of “Moderate Buy” and an average target price of $225.63.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $211.14 on Wednesday. The firm has a 50 day simple moving average of $194.59 and a 200 day simple moving average of $188.86. Zscaler has a 52 week low of $153.45 and a 52 week high of $255.00.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, analysts expect that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $737,578.24. Following the transaction, the insider now owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 3,703 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 transaction of $741,784.96. Following the completion of the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. The trade was a 1.65 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 over the last three months. 18.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

Several institutional investors and hedge funds have recently bought and sold shares of ZS. Global X Japan Co. Ltd. raised its holdings in shares of Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after buying an additional 79 shares in the last quarter. Summit Securities Group LLC bought a new stake in Zscaler in the fourth quarter valued at $27,000. Stonebridge Financial Group LLC acquired a new position in Zscaler during the fourth quarter worth $29,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler during the third quarter valued at $31,000. Finally, True Wealth Design LLC boosted its stake in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after purchasing an additional 185 shares in the last quarter. Institutional investors 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.