Stifel Nicolaus Forecasts Strong Price Appreciation for Zscaler (NASDAQ:ZS) Stock

Zscaler (NASDAQ:ZS) had its price target upped by Stifel Nicolaus from $220.00 to $235.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the stock.

ZS has been the topic of several other reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Rosenblatt Securities reissued a “neutral” rating and set a $190.00 price target on shares of Zscaler in a research report on Wednesday, September 4th. Needham & Company LLC cut their target price on shares of Zscaler from $290.00 to $235.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, September 4th. Scotiabank lowered their target price on shares of Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a research note on Wednesday, September 4th. Finally, Piper Sandler cut their price target on shares of Zscaler from $255.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, September 4th. Ten analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $217.18.

Zscaler Stock Performance

ZS traded down $7.59 during midday trading on Thursday, hitting $200.91. 544,252 shares of the company traded hands, compared to its average volume of 2,028,353. Zscaler has a 52-week low of $153.45 and a 52-week high of $259.61. The business has a 50 day simple moving average of $181.34 and a two-hundred day simple moving average of $182.36.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. Zscaler had a negative net margin of 2.66% and a negative return on equity of 3.46%. The firm had revenue of $592.90 million for the quarter, compared to analysts’ expectations of $567.46 million. During the same period in the prior year, the company earned ($0.17) EPS. The firm’s revenue was up 30.3% on a year-over-year basis. Equities analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Activity

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of Zscaler stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total value of $824,370.64. Following the completion of the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. The trade was a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jagtar Singh Chaudhry sold 2,852 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $171.28, for a total transaction of $488,490.56. Following the completion of the transaction, the chief executive officer now owns 361,432 shares in the company, valued at $61,906,072.96. The trade was a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is currently owned by insiders.

Institutional Trading of Zscaler

Several hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in shares of Zscaler in the second quarter valued at $28,000. True Wealth Design LLC lifted its position in shares of Zscaler by 18,500.0% in the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after purchasing an additional 185 shares in the last quarter. Asset Dedication LLC grew its holdings in Zscaler by 436.8% during the second quarter. Asset Dedication LLC now owns 204 shares of the company’s stock valued at $39,000 after purchasing an additional 166 shares during the last quarter. American Capital Advisory LLC acquired a new stake in shares of Zscaler in the second quarter worth $50,000. Finally, GAMMA Investing LLC raised 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 valued at $73,000 after buying an additional 67 shares during 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.