Stifel Nicolaus Raises Zscaler (NASDAQ:ZS) Price Target to $235.00

Zscaler (NASDAQ:ZS) had its price target hoisted by Stifel Nicolaus from $220.00 to $235.00 in a report released on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on ZS. BTIG Research lowered their price objective on shares of Zscaler from $220.00 to $205.00 and set a “buy” rating for the company in a research report on Wednesday, September 4th. Raymond James initiated coverage on shares of Zscaler in a research report on Tuesday, July 23rd. They set a “market perform” rating for the company. BNP Paribas initiated coverage on shares of Zscaler in a research report on Tuesday, October 8th. They set a “neutral” rating and a $180.00 price objective for the company. BMO Capital Markets lowered their price objective on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Finally, Bank of America cut shares of Zscaler from a “buy” rating to a “neutral” rating and decreased their price target for the company from $265.00 to $195.00 in a research report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Zscaler presently has a consensus rating of “Moderate Buy” and a consensus target price of $217.18.

Zscaler Trading Down 3.4 %

ZS stock opened at $201.47 on Thursday. The company has a market cap of $30.72 billion, a price-to-earnings ratio of -503.68 and a beta of 0.82. Zscaler has a 12 month low of $153.45 and a 12 month high of $259.61. The firm has a 50-day moving average of $182.23 and a two-hundred day moving average of $182.66.

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 business had revenue of $592.90 million during 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 business’s revenue was up 30.3% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.17) EPS. As a group, equities analysts forecast that Zscaler will post -0.97 earnings per share for the current year.

Insider Buying and Selling at Zscaler

In related news, insider Robert Schlossman sold 1,435 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the sale, the insider now owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. The trade was a 1.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael J. Rich sold 4,813 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total transaction of $824,370.64. Following the sale, the insider now directly owns 103,259 shares in the company, valued at approximately $17,686,201.52. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Institutional Trading of Zscaler

Several institutional investors and hedge funds have recently modified their holdings of ZS. Champlain Investment Partners LLC lifted its holdings in shares of Zscaler by 28.2% in the third quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock valued at $220,401,000 after purchasing an additional 283,540 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Zscaler by 13,498.6% in the third quarter. International Assets Investment Management LLC now owns 285,299 shares of the company’s stock valued at $48,769,000 after purchasing an additional 283,201 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Zscaler during the first quarter valued at approximately $47,217,000. GuoLine Advisory Pte Ltd purchased a new position in shares of Zscaler during the third quarter valued at approximately $32,660,000. Finally, Jupiter Asset Management Ltd. purchased a new position in shares of Zscaler during the first quarter valued at approximately $27,954,000. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.