Zscaler (NASDAQ:ZS) Price Target Raised to $235.00 at Citigroup

Zscaler (NASDAQ:ZS) had its price target raised by Citigroup from $230.00 to $235.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently issued reports on the company. UBS Group dropped their price target on Zscaler from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Wednesday, September 4th. JMP Securities restated a “market outperform” rating and issued a $240.00 price target (down previously from $270.00) on shares of Zscaler in a research report on Tuesday. Stifel Nicolaus boosted their price target on Zscaler from $220.00 to $235.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Oppenheimer boosted their price target on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, Robert W. Baird dropped their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. Eleven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.84.

Zscaler Price Performance

Shares of NASDAQ ZS opened at $206.36 on Wednesday. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of -825.44 and a beta of 0.82. The business has a 50-day moving average of $191.28 and a two-hundred day moving average of $185.15. Zscaler has a 1 year low of $153.45 and a 1 year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.80% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. During the same period in the previous year, the business earned ($0.18) EPS. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. As a group, equities research analysts expect that Zscaler will post -0.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Jagtar Singh Chaudhry sold 2,852 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $488,490.56. Following the transaction, the chief executive officer now directly 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 filing with the SEC, which can be accessed through the SEC website. Also, CFO Remo Canessa sold 8,455 shares of the stock in a transaction 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 directly owns 231,793 shares in the company, valued at $39,701,505.04. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,502 shares of company stock valued at $5,256,651 in the last quarter. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Zscaler

Several large investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after purchasing an additional 66 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 last quarter. American Trust lifted its position in shares of Zscaler by 6.1% during the second quarter. American Trust now owns 1,210 shares of the company’s stock worth $233,000 after purchasing an additional 70 shares during the last quarter. Valley Brook Capital Group Inc. lifted its holdings in Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after acquiring an additional 75 shares during the last quarter. Finally, Swedbank AB lifted its holdings in Zscaler by 0.8% in the second quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after acquiring an additional 76 shares during the last quarter. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.