Zscaler (NASDAQ:ZS) Price Target Raised to $205.00 at Scotiabank

Zscaler (NASDAQ:ZS) had its target price raised by Scotiabank from $195.00 to $205.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other analysts have also recently weighed in on ZS. Jefferies Financial Group boosted their price objective on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their price target on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays raised their price objective on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. increased their price target on Zscaler from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, November 29th. Finally, Wells Fargo & Company decreased their price objective on Zscaler from $182.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 4th. Eleven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $224.38.

Zscaler Trading Down 4.7 %

Shares of ZS stock opened at $198.64 on Tuesday. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61. The firm’s 50 day moving average is $190.79 and its 200-day moving average is $185.01.

Zscaler (NASDAQ:ZS) last posted its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The firm had revenue of $628.00 million for the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.18) EPS. Equities research analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity at Zscaler

In other news, insider Michael J. Rich sold 4,813 shares of the 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 $824,370.64. Following the completion of the sale, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the firm’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now directly owns 105,806 shares of the company’s stock, valued at $19,224,950.20. This represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,502 shares of company stock valued at $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ZS. EverSource Wealth Advisors LLC boosted its stake in shares of Zscaler by 8.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after acquiring an additional 66 shares during the period. GAMMA Investing LLC boosted its position in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after purchasing an additional 67 shares during the period. American Trust increased its holdings in shares of Zscaler by 6.1% in the second quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after purchasing an additional 70 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in shares of Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after purchasing an additional 75 shares during the period. Finally, Swedbank AB lifted its stake in shares of Zscaler by 0.8% during the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after buying an additional 76 shares during the last quarter. 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.