Zscaler (NASDAQ:ZS – Free Report) had its price target lifted by JPMorgan Chase & Co. from $220.00 to $240.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an overweight rating on the stock.
ZS has been the subject of a number of other research reports. KeyCorp lifted their target price on shares of Zscaler from $220.00 to $245.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Wedbush cut their price objective on Zscaler from $260.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Scotiabank lowered their target price on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating on the stock in a report on Wednesday, September 4th. Morgan Stanley boosted their price target on Zscaler from $202.00 to $215.00 and gave the stock an “equal weight” rating in a report on Monday, August 26th. Finally, Jefferies Financial Group increased their price objective on Zscaler from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Tuesday. Ten analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.13.
Get Our Latest Research Report on ZS
Zscaler Price Performance
Zscaler (NASDAQ:ZS – Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.09. The company had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. Zscaler’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, equities analysts anticipate that Zscaler will post -0.95 earnings per share for the current year.
Insider Transactions at Zscaler
In related 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 transaction of $824,370.64. Following the sale, the insider now owns 103,259 shares of the company’s stock, valued at $17,686,201.52. The trade was a 4.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at $19,224,950.20. This represents a 1.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,502 shares of company stock valued at $5,256,651 over the last quarter. Company insiders own 19.20% of the company’s stock.
Institutional Investors Weigh In On Zscaler
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC increased its position in shares of Zscaler by 11.8% in the 1st quarter. Janus Henderson Group PLC now owns 9,121 shares of the company’s stock worth $1,757,000 after purchasing an additional 963 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in Zscaler by 3.0% in the first quarter. B. Riley Wealth Advisors Inc. now owns 3,761 shares of the company’s stock valued at $724,000 after buying an additional 111 shares during the last quarter. Tidal Investments LLC raised its stake in Zscaler by 7.4% during the first quarter. Tidal Investments LLC now owns 4,938 shares of the company’s stock valued at $951,000 after buying an additional 341 shares in the last quarter. Virtu Financial LLC bought a new position in Zscaler during the 1st quarter worth approximately $462,000. Finally, Swedbank AB acquired a new position in shares of Zscaler in the 1st quarter worth approximately $1,726,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.
About Zscaler
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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