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

Zscaler (NASDAQ:ZS) had its price objective boosted by Stifel Nicolaus from $220.00 to $235.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts also recently commented on the stock. Barclays dropped their price objective on shares of Zscaler from $230.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. BTIG Research reduced their price target on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. Citigroup dropped their price target on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Needham & Company LLC reduced their price target on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating for the company in a report on Wednesday, September 4th. Finally, Piper Sandler dropped their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $217.18.

Zscaler Stock Performance

Shares of ZS traded down $7.59 on Thursday, reaching $200.91. 544,252 shares of the stock traded hands, compared to its average volume of 2,028,353. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The stock’s 50-day moving average price is $181.34 and its 200-day moving average price is $182.36.

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

Insider Activity at Zscaler

In other Zscaler news, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 105,806 shares in the company, valued at $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the sale, the chief executive officer now directly owns 361,432 shares in the company, valued at approximately $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock worth $5,256,651 in the last three months. 19.20% of the stock is owned by company insiders.

Institutional Trading of Zscaler

A number of institutional investors have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System boosted its stake in Zscaler by 6.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 103,937 shares of the company’s stock worth $20,021,000 after buying an additional 6,683 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Zscaler by 9.1% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 116,691 shares of the company’s stock worth $22,478,000 after acquiring an additional 9,689 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Zscaler by 7.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Creative Planning raised its stake in Zscaler by 7.6% in the third quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after buying an additional 10,551 shares during the period. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Zscaler in the 2nd quarter valued at $25,287,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.