Zscaler (NASDAQ:ZS) Price Target Raised to $320.00 at Susquehanna

Zscaler (NASDAQ:ZS) had its price target upped by Susquehanna from $245.00 to $320.00 in a research report released on Friday morning,Benzinga reports. Susquehanna currently has a positive rating on the stock.

ZS has been the subject of a number of other research reports. Roth Capital reaffirmed a “neutral” rating on shares of Zscaler in a report on Wednesday. The Goldman Sachs Group set a $207.00 price objective on shares of Zscaler and gave the stock a “neutral” rating in a report on Thursday, March 6th. Stephens reissued an “overweight” rating and set a $255.00 price target on shares of Zscaler in a report on Tuesday. Rosenblatt Securities boosted their price target on shares of Zscaler from $235.00 to $315.00 and gave the company a “buy” rating in a report on Friday. Finally, Bank of America raised shares of Zscaler from a “neutral” rating to a “buy” rating and boosted their price target for the company from $215.00 to $240.00 in a report on Friday, March 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $275.12.

Zscaler Stock Up 9.1%

ZS opened at $274.03 on Friday. The firm has a market capitalization of $42.40 billion, a P/E ratio of -1,096.12 and a beta of 1.14. The firm’s 50 day moving average is $220.62 and its 200-day moving average is $206.35. Zscaler has a 52-week low of $153.45 and a 52-week high of $276.49.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s revenue was up 22.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Equities analysts expect that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other Zscaler news, CEO Jagtar Singh Chaudhry sold 2,155 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total value of $429,168.25. Following the completion of the transaction, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the completion of the transaction, the insider now owns 2,580,210 shares of the company’s stock, valued at approximately $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 in the last quarter. Insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Zscaler during the first quarter worth approximately $516,622,000. Nuveen LLC acquired a new stake in shares of Zscaler during the first quarter worth approximately $153,340,000. Goldman Sachs Group Inc. boosted its holdings in shares of Zscaler by 23.4% during the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company’s stock worth $604,831,000 after purchasing an additional 578,883 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Zscaler by 120.1% during the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after purchasing an additional 525,956 shares during the period. Finally, Natixis acquired a new stake in shares of Zscaler during the fourth quarter worth approximately $87,775,000. 46.45% of the stock is currently owned by institutional investors and hedge funds.

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.