Brokerages Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $216.97

Zscaler, Inc. (NASDAQ:ZS) has earned a consensus recommendation of “Moderate Buy” from the thirty-five brokerages that are currently covering the firm, MarketBeat Ratings reports. Ten investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $216.97.

Several research analysts have weighed in on ZS shares. Piper Sandler lowered their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. BTIG Research lowered their price target on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. UBS Group lowered their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Oppenheimer lowered their price target on shares of Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Finally, Robert W. Baird lowered their price target on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th.

Insider Activity

In related news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of Zscaler stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now directly owns 25,907 shares of the company’s stock, valued at $4,510,408.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Several hedge funds and other institutional investors have recently bought and sold shares of ZS. RMB Capital Management LLC grew its holdings in shares of Zscaler by 2.5% during the fourth quarter. RMB Capital Management LLC now owns 18,991 shares of the company’s stock valued at $4,208,000 after buying an additional 468 shares during the last quarter. Garner Asset Management Corp acquired a new position in shares of Zscaler during the fourth quarter valued at about $210,000. Shariaportfolio Inc. acquired a new position in shares of Zscaler during the fourth quarter valued at about $233,000. C M Bidwell & Associates Ltd. grew its holdings in shares of Zscaler by 68.4% during the fourth quarter. C M Bidwell & Associates Ltd. now owns 1,315 shares of the company’s stock valued at $291,000 after buying an additional 534 shares during the last quarter. Finally, Parkwood LLC purchased a new position in Zscaler during the fourth quarter worth about $361,000. 46.45% of the stock is owned by institutional investors.

Zscaler Stock Performance

Shares of Zscaler stock opened at $196.74 on Thursday. Zscaler has a 52 week low of $152.60 and a 52 week high of $259.61. The stock has a market capitalization of $29.74 billion, a price-to-earnings ratio of -385.76 and a beta of 0.82. The firm has a fifty day moving average of $179.03 and a two-hundred day moving average of $180.62.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million during the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm’s revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, research analysts forecast that Zscaler will post -0.95 EPS for the current fiscal year.

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.