Zscaler (NASDAQ:ZS) Price Target Raised to $245.00

Zscaler (NASDAQ:ZS) had its price target lifted by KeyCorp from $220.00 to $245.00 in a report issued on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus lifted their price objective on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research report on Monday, November 18th. Piper Sandler reduced their price objective on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating for the company in a research note on Wednesday, September 4th. Barclays upped their target price on shares of Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Bank of America cut Zscaler from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.55.

Zscaler Stock Performance

Shares of NASDAQ:ZS opened at $210.96 on Friday. The firm has a market capitalization of $32.17 billion, a P/E ratio of -527.39 and a beta of 0.82. The stock has a 50 day moving average price of $186.49 and a 200-day moving average price of $183.69. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business 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 company earned ($0.17) earnings per share. The firm’s quarterly revenue was up 30.3% compared to the same quarter last year. On average, equities analysts forecast that Zscaler will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of Zscaler stock in a transaction that occurred 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 sale, the chief executive officer now owns 361,432 shares of the company’s stock, valued at approximately $61,906,072.96. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Remo Canessa sold 8,455 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the completion of the transaction, the chief financial officer now owns 231,793 shares of the company’s stock, valued at $39,701,505.04. The trade was a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,502 shares of company stock valued at $5,256,651 over the last 90 days. 19.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Zscaler

Several institutional investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Zscaler by 7.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock worth $37,495,000 after buying an additional 14,701 shares during the last quarter. Creative Planning increased its stake in Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after acquiring an additional 10,551 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Zscaler during the second quarter valued at approximately $25,287,000. Strategic Advisors LLC lifted its stake in shares of Zscaler by 470.0% in the 3rd quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock valued at $1,391,000 after purchasing an additional 6,712 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of Zscaler by 1,786.5% in the 3rd quarter. Van ECK Associates Corp now owns 15,073 shares of the company’s stock worth $2,728,000 after purchasing an additional 14,274 shares during the period. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.