Zscaler (NASDAQ:ZS – Free Report) had its price target hoisted by Morgan Stanley from $200.00 to $280.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the stock.
A number of other research analysts have also recently weighed in on ZS. Cantor Fitzgerald lifted their price objective on shares of Zscaler from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday. Rosenblatt Securities boosted their target price on shares of Zscaler from $235.00 to $315.00 and gave the stock a “buy” rating in a research note on Friday. Scotiabank boosted their target price on shares of Zscaler from $242.00 to $310.00 and gave the stock a “sector outperform” rating in a research note on Friday. Citigroup reissued a “buy” rating and set a $240.00 target price (up previously from $235.00) on shares of Zscaler in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group set a $207.00 target price on shares of Zscaler and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $275.12.
Check Out Our Latest Report on Zscaler
Zscaler Stock Performance
ZS opened at $274.03 on Friday. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $276.49. The company has a fifty day moving average of $220.62 and a two-hundred day moving average of $206.35. The stock has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14.
Zscaler (NASDAQ:ZS – Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter in the previous year, the company earned $0.88 earnings per share. The firm’s revenue for the quarter was up 22.6% on a year-over-year basis. On average, equities research analysts forecast that Zscaler will post -0.1 earnings per share for the current year.
Insider Buying and Selling at Zscaler
In other news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at approximately $70,979,848.10. This represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert Schlossman sold 3,590 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $897,500.00. Following the completion of the transaction, the insider now owns 100,230 shares in the company, valued at approximately $25,057,500. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock worth $50,165,040 in the last ninety days. 18.10% of the stock is owned by insiders.
Hedge Funds Weigh In On Zscaler
Several large investors have recently made changes to their positions in ZS. T. Rowe Price Investment Management Inc. acquired a new position in shares of Zscaler in the 1st quarter worth approximately $516,622,000. Nuveen LLC acquired a new position in shares of Zscaler in the 1st quarter worth approximately $153,340,000. Goldman Sachs Group Inc. lifted its holdings in shares of Zscaler by 23.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock worth $604,831,000 after acquiring an additional 578,883 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Zscaler by 120.1% in the 4th quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after acquiring an additional 525,956 shares during the last quarter. Finally, Natixis acquired a new position in shares of Zscaler in the 4th quarter worth approximately $87,775,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.
Zscaler Company Profile
(Get Free Report)
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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