Zscaler (NASDAQ:ZS) Price Target Raised to $210.00 at Wells Fargo & Company

Zscaler (NASDAQ:ZS) had its price objective boosted by Wells Fargo & Company from $190.00 to $210.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Other equities analysts have also issued research reports about the company. Robert W. Baird raised their price target on Zscaler from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday. Scotiabank reissued a “sector outperform” rating and set a $242.00 price target (up previously from $225.00) on shares of Zscaler in a report on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $240.00 price target on shares of Zscaler in a report on Wednesday. Piper Sandler raised their price target on Zscaler from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Finally, Wedbush raised their price target on Zscaler from $230.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.84.

Zscaler Stock Performance

ZS opened at $202.16 on Thursday. The business’s 50-day simple moving average is $196.01 and its 200-day simple moving average is $191.57. Zscaler has a one year low of $153.45 and a one year high of $217.84. The stock has a market capitalization of $31.02 billion, a P/E ratio of -808.64 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same quarter in the previous year, the firm earned ($0.18) earnings per share. The business’s revenue was up 26.4% compared to the same quarter last year. On average, equities research analysts forecast that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the sale, the chief financial officer now owns 220,635 shares of the company’s stock, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares in the company, valued at approximately $28,618,917.12. The trade was a 2.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,248 shares of company stock valued at $2,052,879. 18.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ZS. Corebridge Financial Inc. raised its position in shares of Zscaler by 0.5% in the 4th quarter. Corebridge Financial Inc. now owns 11,695 shares of the company’s stock worth $2,110,000 after buying an additional 54 shares during the period. Erste Asset Management GmbH raised its position in shares of Zscaler by 0.6% in the 4th quarter. Erste Asset Management GmbH now owns 9,780 shares of the company’s stock worth $1,805,000 after buying an additional 56 shares during the period. KRS Capital Management LLC raised its position in shares of Zscaler by 1.9% in the 4th quarter. KRS Capital Management LLC now owns 3,261 shares of the company’s stock worth $588,000 after buying an additional 60 shares during the period. Ironwood Investment Management LLC raised its position in shares of Zscaler by 1.0% in the 4th quarter. Ironwood Investment Management LLC now owns 6,249 shares of the company’s stock worth $1,127,000 after buying an additional 64 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Zscaler by 16.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 482 shares of the company’s stock worth $88,000 after buying an additional 69 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.