Barclays Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS) had its target price hoisted by Barclays from $200.00 to $220.00 in a report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on ZS. Loop Capital cut their target price on shares of Zscaler from $180.00 to $165.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a report on Monday, November 18th. BNP Paribas began coverage on Zscaler in a research note on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective on the stock. JPMorgan Chase & Co. cut their target price on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Wednesday, September 4th. Finally, Robert W. Baird reduced their price objective on shares of Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus price target of $218.55.

Zscaler Stock Performance

Shares of ZS opened at $210.96 on Thursday. The stock has a fifty day moving average price of $186.49 and a two-hundred day moving average price of $183.69. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The company has a market cap of $32.17 billion, a price-to-earnings ratio of -527.39 and a beta of 0.82.

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

Insider Activity

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now owns 103,259 shares in the company, valued at $17,686,201.52. This trade represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total value of $260,739.50. Following the transaction, the insider now directly owns 105,806 shares in the company, valued at approximately $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC bought a new position in shares of Zscaler during the second quarter valued at approximately $28,000. Prestige Wealth Management Group LLC bought a new position in shares of Zscaler in the 3rd quarter worth approximately $31,000. True Wealth Design LLC lifted 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 during the period. Asset Dedication LLC boosted its position in shares of Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. Finally, American Capital Advisory LLC bought a new position in Zscaler in the second quarter worth $50,000. 46.45% of the stock is owned by institutional investors.

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.