Zscaler (NASDAQ:ZS) Price Target Raised to $175.00

Zscaler (NASDAQ:ZSGet Rating) had its price objective boosted by research analysts at Piper Sandler from $160.00 to $175.00 in a research note issued to investors on Friday, The Fly reports. Piper Sandler’s price target would suggest a potential upside of 13.45% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Canaccord Genuity Group lowered their price target on shares of Zscaler from $320.00 to $210.00 in a research report on Friday, May 27th. Barclays lifted their price target on shares of Zscaler from $147.00 to $168.00 and gave the company an “equal weight” rating in a research report on Friday, May 27th. Wedbush lowered their price target on shares of Zscaler to $200.00 in a research report on Friday, May 27th. Morgan Stanley lowered their price target on shares of Zscaler from $325.00 to $225.00 and set an “overweight” rating for the company in a research report on Thursday, May 19th. Finally, Stephens began coverage on shares of Zscaler in a report on Wednesday, May 25th. They issued an “overweight” rating and a $200.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $242.09.

Zscaler Trading Up 4.4 %

NASDAQ:ZS opened at $154.25 on Friday. The company has a 50-day moving average price of $160.35 and a 200-day moving average price of $181.24. Zscaler has a 12 month low of $125.12 and a 12 month high of $376.11. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 1.80. The stock has a market cap of $21.88 billion, a price-to-earnings ratio of -57.77 and a beta of 1.02.

Zscaler (NASDAQ:ZSGet Rating) last issued its quarterly earnings results on Thursday, September 8th. The company reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. Zscaler had a negative net margin of 38.52% and a negative return on equity of 58.37%. The company had revenue of $318.06 million during the quarter, compared to analysts’ expectations of $305.54 million. During the same period last year, the company posted ($0.48) EPS. Zscaler’s revenue was up 61.4% on a year-over-year basis. Equities analysts predict that Zscaler will post -2.31 EPS for the current year.

Insider Activity at Zscaler

In related news, insider Robert Schlossman sold 4,184 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $136.67, for a total transaction of $571,827.28. Following the sale, the insider now owns 112,861 shares of the company’s stock, valued at $15,424,712.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Robert Schlossman sold 4,184 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $136.67, for a total transaction of $571,827.28. Following the sale, the insider now owns 112,861 shares of the company’s stock, valued at $15,424,712.87. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Dali Rajic sold 5,302 shares of the company’s stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $136.67, for a total transaction of $724,624.34. Following the sale, the chief operating officer now directly owns 226,353 shares in the company, valued at approximately $30,935,664.51. The disclosure for this sale can be found here. Insiders have sold a total of 24,710 shares of company stock valued at $3,380,302 over the last 90 days. 20.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ZS. Vanguard Group Inc. grew its holdings in shares of Zscaler by 0.9% in the first quarter. Vanguard Group Inc. now owns 7,611,843 shares of the company’s stock worth $1,836,586,000 after purchasing an additional 68,301 shares during the last quarter. Capital Research Global Investors grew its holdings in shares of Zscaler by 40.4% in the first quarter. Capital Research Global Investors now owns 4,377,330 shares of the company’s stock worth $1,056,162,000 after purchasing an additional 1,259,876 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Zscaler by 75.2% in the first quarter. First Trust Advisors LP now owns 2,265,816 shares of the company’s stock worth $546,696,000 after purchasing an additional 972,637 shares during the last quarter. Artisan Partners Limited Partnership grew its holdings in shares of Zscaler by 7.0% in the second quarter. Artisan Partners Limited Partnership now owns 1,593,820 shares of the company’s stock worth $238,292,000 after purchasing an additional 104,934 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in shares of Zscaler by 3.3% in the fourth quarter. Nuveen Asset Management LLC now owns 1,220,097 shares of the company’s stock worth $392,054,000 after purchasing an additional 38,586 shares during the last quarter. Institutional investors own 45.51% of the company’s stock.

About Zscaler

(Get Rating)

Zscaler, Inc operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device 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.

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