Zscaler (NASDAQ:ZS) Given New $225.00 Price Target at Mizuho

Zscaler (NASDAQ:ZS) had its price target boosted by equities researchers at Mizuho from $210.00 to $225.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s target price indicates a potential upside of 7.53% from the stock’s current price.

Several other equities analysts also recently issued reports on ZS. Wells Fargo & Company upped their price objective on shares of Zscaler from $180.00 to $190.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 4th. Oppenheimer upped their target price on Zscaler from $230.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Citigroup lifted their price target on Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price objective on shares of Zscaler in a report on Tuesday, December 3rd. Finally, Morgan Stanley lowered their target price on shares of Zscaler from $215.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.63.

Zscaler Trading Down 1.5 %

ZS opened at $209.24 on Wednesday. The stock’s 50-day moving average price is $194.49 and its 200 day moving average price is $188.70. Zscaler has a 12-month low of $153.45 and a 12-month high of $256.42. The firm has a market cap of $32.11 billion, a price-to-earnings ratio of -836.96 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The firm had revenue of $628.00 million during the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the previous year, the firm posted ($0.18) EPS. Zscaler’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, research analysts forecast that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In other news, CFO Remo Canessa sold 3,703 shares of the firm’s stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the transaction, the chief financial officer now directly owns 220,635 shares in the company, valued at $44,197,603.20. This trade represents a 1.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total transaction of $573,516.16. Following the sale, the chief executive officer now directly owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock valued at $2,052,879 over the last quarter. Company 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 the stock. Fred Alger Management LLC increased its stake in Zscaler by 1,151.0% during 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 period. DekaBank Deutsche Girozentrale grew 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 acquiring an additional 14,701 shares in the last quarter. Creative Planning increased its position in shares of Zscaler by 7.6% during the third quarter. Creative Planning now owns 148,534 shares of the company’s stock worth $25,390,000 after acquiring an additional 10,551 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Zscaler by 11.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 380,463 shares of the company’s stock worth $65,036,000 after acquiring an additional 37,801 shares during the last quarter. Finally, Zweig DiMenna Associates LLC lifted its stake in shares of Zscaler by 29.8% in the fourth quarter. Zweig DiMenna Associates LLC now owns 77,941 shares of the company’s stock worth $14,061,000 after acquiring an additional 17,900 shares in the last quarter. Institutional investors and hedge funds 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.