Zscaler (NASDAQ:ZS – Free Report) had its price target lifted by Robert W. Baird from $295.00 to $315.00 in a research note published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.
ZS has been the topic of several other reports. Piper Sandler reiterated a “neutral” rating and issued a $260.00 price objective (up from $235.00) on shares of Zscaler in a research note on Friday. Scotiabank increased their price objective on Zscaler from $242.00 to $310.00 and gave the company a “sector outperform” rating in a research note on Friday. Bank of America upgraded Zscaler from a “neutral” rating to a “buy” rating and raised their price target for the company from $215.00 to $240.00 in a research note on Friday, March 7th. Citigroup restated a “buy” rating and issued a $240.00 price target (up from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, Evercore ISI raised their price target on Zscaler from $245.00 to $290.00 and gave the company an “outperform” rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Zscaler has a consensus rating of “Moderate Buy” and an average price target of $275.12.
View Our Latest Stock Report on Zscaler
Zscaler Stock Performance
Shares of Zscaler stock opened at $274.03 on Friday. The firm has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $276.49. The stock has a 50 day moving average of $220.62 and a 200 day moving average of $206.35.
Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same period last year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 22.6% on a year-over-year basis. Analysts forecast that Zscaler will post -0.1 EPS for the current year.
Insider Buying and Selling at Zscaler
In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now owns 356,414 shares of the company’s stock, valued at $70,979,848.10. The trade was a 0.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Ajay Mangal sold 190,480 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares in the company, valued at $517,822,344.90. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of ZS. Global X Japan Co. Ltd. raised its holdings in Zscaler by 127.4% in the 4th quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. ORG Partners LLC raised its holdings in Zscaler by 284.8% in the 1st quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after acquiring an additional 94 shares during the last quarter. SVB Wealth LLC acquired a new position in Zscaler in the 1st quarter valued at $26,000. Summit Securities Group LLC acquired a new position in Zscaler in the 4th quarter valued at $27,000. Finally, Colonial Trust Co SC acquired a new position in Zscaler in the 4th quarter valued at $28,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.
About Zscaler
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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.
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