UBS Group Raises Zscaler (NASDAQ:ZS) Price Target to $260.00

Zscaler (NASDAQ:ZS) had its price target hoisted by UBS Group from $250.00 to $260.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Oppenheimer raised their target price on shares of Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wedbush raised their target price on shares of Zscaler from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday. Rosenblatt Securities raised shares of Zscaler from a “neutral” rating to a “buy” rating and raised their target price for the company from $190.00 to $235.00 in a research note on Thursday. Finally, Barclays reissued an “overweight” rating on shares of Zscaler in a research report on Wednesday. Nine analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average price target of $232.84.

Zscaler Price Performance

ZS stock opened at $202.16 on Thursday. Zscaler has a 1 year low of $153.45 and a 1 year high of $217.84. The company has a market cap of $31.02 billion, a P/E ratio of -808.64 and a beta of 0.89. The firm has a 50-day moving average of $196.01 and a 200 day moving average of $191.57.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period in the prior year, the firm earned ($0.18) earnings per share. Zscaler’s revenue was up 26.4% on a year-over-year basis. On average, equities research analysts expect that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of Zscaler stock in a transaction on 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 in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,248 shares of company stock worth $2,052,879. Insiders own 18.10% of the company’s stock.

Institutional Trading of Zscaler

A number of large investors have recently made changes to their positions in ZS. AQR Capital Management LLC increased its holdings in shares of Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after buying an additional 525,956 shares during the last quarter. Natixis bought a new stake in shares of Zscaler in the 4th quarter worth about $87,775,000. Greenvale Capital LLP bought a new stake in shares of Zscaler in the 4th quarter worth about $72,164,000. Pictet Asset Management Holding SA increased its holdings in shares of Zscaler by 25.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock worth $291,935,000 after buying an additional 332,307 shares during the last quarter. Finally, Champlain Investment Partners LLC increased its holdings in shares of Zscaler by 28.2% in the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after buying an additional 283,540 shares during the last quarter. 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.