Analysts Set Zscaler, Inc. (NASDAQ:ZS) Target Price at $216.73

Shares of Zscaler, Inc. (NASDAQ:ZS) have been assigned an average rating of “Moderate Buy” from the thirty-four analysts that are presently covering the firm, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $216.73.

ZS has been the topic of a number of recent analyst reports. Citigroup lowered their target price on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Wedbush lowered their price objective on shares of Zscaler from $260.00 to $220.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 4th. JPMorgan Chase & Co. cut their price objective on Zscaler from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Wednesday, September 4th. BNP Paribas started coverage on shares of Zscaler in a research note on Tuesday, October 8th. They issued a “neutral” rating and a $180.00 price objective for the company. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $190.00 target price on shares of Zscaler in a research report on Wednesday, September 4th.

Insider Activity

In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $824,370.64. Following the transaction, the insider now owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Zscaler news, insider Michael J. Rich sold 4,813 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 103,259 shares of the company’s stock, valued at approximately $17,686,201.52. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction that occurred 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. The trade was a 0.00 % decrease in their ownership of the stock. 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 three months. Insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Zscaler by 8.6% during the second quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock valued at $149,000 after acquiring an additional 66 shares during the period. GAMMA Investing LLC grew 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 worth $73,000 after purchasing an additional 67 shares in the last quarter. American Trust raised its stake in Zscaler by 6.1% during the 2nd quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after purchasing an additional 70 shares during the period. Valley Brook Capital Group Inc. lifted its holdings in Zscaler by 4.0% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock worth $337,000 after purchasing an additional 75 shares in the last quarter. Finally, Swedbank AB boosted its stake in Zscaler by 0.8% in the 2nd quarter. Swedbank AB now owns 9,036 shares of the company’s stock worth $1,737,000 after purchasing an additional 76 shares during the period. 46.45% of the stock is owned by hedge funds and other institutional investors.

Zscaler Price Performance

Zscaler stock opened at $193.03 on Monday. Zscaler has a one year low of $153.45 and a one year high of $259.61. The firm has a market capitalization of $29.44 billion, a P/E ratio of -467.26 and a beta of 0.82. The business has a fifty day moving average price of $179.17 and a 200-day moving average price of $181.16.

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

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.