Oppenheimer Raises Zscaler (NASDAQ:ZS) Price Target to $250.00

Zscaler (NASDAQ:ZS) had its target price upped by stock analysts at Oppenheimer from $230.00 to $250.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Oppenheimer’s price objective would suggest a potential upside of 26.13% from the stock’s current price.

ZS has been the subject of several other reports. Wedbush reduced their price target on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Jefferies Financial Group lifted their target price on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. UBS Group lowered their price target on shares of Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, September 4th. Cantor Fitzgerald raised shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Wells Fargo & Company lowered their target price on shares of Zscaler from $182.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.44.

Zscaler Trading Down 4.9 %

Shares of ZS stock traded down $10.30 on Tuesday, hitting $198.21. 2,179,472 shares of the stock were exchanged, compared to its average volume of 2,023,167. The firm’s 50 day moving average is $190.12 and its two-hundred day moving average is $184.80. Zscaler has a one year low of $153.45 and a one year high of $259.61. The firm has a market capitalization of $30.41 billion, a PE ratio of -495.51 and a beta of 0.82.

Zscaler (NASDAQ:ZS) last posted its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The company’s revenue was up 26.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) earnings per share. On average, sell-side analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insider Buying and Selling

In other news, 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 completion of the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now owns 25,907 shares in the company, valued at $4,510,408.70. This represents a 23.59 % decrease in their position. 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 ninety days. 18.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Zscaler

Hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its stake in shares of Zscaler by 7.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 221,212 shares of the company’s stock valued at $37,495,000 after purchasing an additional 14,701 shares in the last quarter. Fred Alger Management LLC grew its stake in shares of Zscaler by 1,151.0% in the 3rd quarter. Fred Alger Management LLC now owns 10,371 shares of the company’s stock worth $1,773,000 after buying an additional 9,542 shares during the last quarter. Creative Planning increased its position in Zscaler by 7.6% during the 3rd quarter. Creative Planning now owns 148,534 shares of the company’s stock valued at $25,390,000 after buying an additional 10,551 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in Zscaler during the second quarter valued at $25,287,000. Finally, Strategic Advisors LLC boosted its holdings in Zscaler by 470.0% in the third quarter. Strategic Advisors LLC now owns 8,140 shares of the company’s stock worth $1,391,000 after acquiring an additional 6,712 shares in the last quarter. 46.45% of the stock is currently owned by institutional investors.

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.