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

Zscaler (NASDAQ:ZS) had its price target hoisted by research analysts at Susquehanna from $210.00 to $225.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price would indicate a potential upside of 15.27% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. KeyCorp increased their price objective on Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 price target on shares of Zscaler in a research report on Tuesday. Jefferies Financial Group lifted their price target on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upped their target price on Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on Zscaler from $220.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $222.66.

Zscaler Price Performance

Shares of Zscaler stock traded down $13.31 during trading hours on Tuesday, hitting $195.20. The company had a trading volume of 344,244 shares, compared to its average volume of 2,016,214. The company has a market cap of $29.95 billion, a P/E ratio of -487.99 and a beta of 0.82. Zscaler has a twelve month low of $153.45 and a twelve month high of $259.61. The company’s 50-day moving average is $190.12 and its two-hundred day moving average is $184.80.

Zscaler (NASDAQ:ZS) last released its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The business had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The business’s quarterly revenue was up 26.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.18) earnings per share. Sell-side analysts expect that Zscaler will post -0.95 EPS for the current year.

Insiders Place Their Bets

In other news, insider Robert Schlossman sold 1,435 shares of the company’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were 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 of the company’s stock, valued at $61,906,072.96. This represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,502 shares of company stock worth $5,256,651. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Zscaler in the 2nd quarter valued at approximately $28,000. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the third quarter valued at approximately $31,000. True Wealth Design LLC increased its stake in shares of Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Zscaler during the 3rd quarter valued at $38,000. Finally, Asset Dedication LLC grew its position in shares of Zscaler by 436.8% in the 2nd quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after buying an additional 166 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.