Zscaler (NASDAQ:ZS) Price Target Increased to $270.00 by Analysts at JMP Securities

Zscaler (NASDAQ:ZSFree Report) had its target price upped by JMP Securities from $225.00 to $270.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a market outperform rating on the stock.

Several other research firms also recently commented on ZS. Jefferies Financial Group upgraded Zscaler from a hold rating to a buy rating and raised their price objective for the stock from $170.00 to $225.00 in a report on Thursday, October 19th. Macquarie upgraded Zscaler from a neutral rating to an outperform rating and raised their price objective for the stock from $166.00 to $231.00 in a report on Tuesday, December 12th. Cantor Fitzgerald restated a neutral rating and set a $185.00 price objective on shares of Zscaler in a report on Wednesday. TheStreet upgraded Zscaler from a d+ rating to a c- rating in a report on Monday, November 20th. Finally, Needham & Company LLC raised their price objective on Zscaler from $210.00 to $225.00 and gave the stock a strong-buy rating in a report on Tuesday, November 28th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Zscaler has an average rating of Moderate Buy and an average target price of $210.51.

View Our Latest Analysis on ZS

Zscaler Stock Performance

NASDAQ ZS opened at $235.67 on Wednesday. The business has a 50-day moving average price of $218.34 and a 200-day moving average price of $179.29. Zscaler has a twelve month low of $84.93 and a twelve month high of $246.38. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 1.40.

Zscaler (NASDAQ:ZSGet Free Report) last announced its quarterly earnings results on Monday, November 27th. The company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.18. Zscaler had a negative return on equity of 21.39% and a negative net margin of 9.54%. The company had revenue of $496.70 million during the quarter, compared to analyst estimates of $473.36 million. During the same period in the prior year, the company earned ($0.47) earnings per share. The firm’s revenue was up 39.7% on a year-over-year basis. Equities analysts predict that Zscaler will post -0.94 earnings per share for the current year.

Insider Transactions at Zscaler

In other news, Director Amit Sinha sold 3,680 shares of Zscaler stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $165.00, for a total transaction of $607,200.00. Following the transaction, the director now owns 38,640 shares in the company, valued at $6,375,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Zscaler news, Director Karen Blasing sold 7,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $191.20, for a total value of $1,338,400.00. Following the completion of the sale, the director now owns 19,398 shares of the company’s stock, valued at $3,708,897.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amit Sinha sold 3,680 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $165.00, for a total value of $607,200.00. Following the completion of the sale, the director now directly owns 38,640 shares of the company’s stock, valued at approximately $6,375,600. The disclosure for this sale can be found here. Insiders sold a total of 147,012 shares of company stock valued at $30,120,242 over the last quarter. Company insiders own 19.20% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Several large investors have recently made changes to their positions in ZS. Vanguard Group Inc. increased its stake in Zscaler by 1.5% during the third quarter. Vanguard Group Inc. now owns 8,636,864 shares of the company’s stock valued at $1,343,810,000 after acquiring an additional 129,090 shares during the period. First Trust Advisors LP increased its stake in Zscaler by 4.7% during the first quarter. First Trust Advisors LP now owns 1,862,369 shares of the company’s stock valued at $217,581,000 after acquiring an additional 84,440 shares during the period. Champlain Investment Partners LLC increased its stake in Zscaler by 15.7% during the second quarter. Champlain Investment Partners LLC now owns 1,787,005 shares of the company’s stock valued at $261,439,000 after acquiring an additional 242,435 shares during the period. Geode Capital Management LLC grew its stake in shares of Zscaler by 5.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,307,077 shares of the company’s stock valued at $190,918,000 after purchasing an additional 65,451 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Zscaler by 40.7% in the 1st quarter. Renaissance Technologies LLC now owns 1,219,700 shares of the company’s stock valued at $142,498,000 after purchasing an additional 353,112 shares during the period. Institutional investors and hedge funds own 46.45% of the company’s stock.

Zscaler Company Profile

(Get Free Report)

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.

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