Zscaler (NASDAQ:ZS) Price Target Raised to $245.00 at KeyCorp

Zscaler (NASDAQ:ZS) had its price target lifted by KeyCorp from $220.00 to $245.00 in a research report sent to investors on Friday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Several other brokerages have also recently weighed in on ZS. Citigroup dropped their price target on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Stifel Nicolaus increased their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Robert W. Baird reduced their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. Scotiabank dropped their price objective on Zscaler from $210.00 to $195.00 and set a “sector outperform” rating for the company in a report on Wednesday, September 4th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $190.00 target price on shares of Zscaler in a research note on Wednesday, September 4th. Ten investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.55.

Zscaler Trading Down 0.3 %

Shares of NASDAQ:ZS opened at $210.42 on Friday. The stock has a market capitalization of $32.09 billion, a P/E ratio of -526.04 and a beta of 0.82. The stock’s 50-day moving average price is $187.27 and its 200-day moving average price is $183.96. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61.

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

Insider Activity at Zscaler

In related news, CFO Remo Canessa sold 8,455 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $171.28, for a total value of $1,448,172.40. Following the transaction, the chief financial officer now directly owns 231,793 shares of the company’s stock, valued at approximately $39,701,505.04. The trade was a 3.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Rich sold 4,813 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were 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. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock worth $5,256,651. 19.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Zscaler

A number of hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of Zscaler by 8.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 832 shares of the company’s stock worth $149,000 after purchasing an additional 66 shares during the period. GAMMA Investing LLC boosted its stake in Zscaler by 21.3% during the second quarter. GAMMA Investing LLC now owns 382 shares of the company’s stock worth $73,000 after buying an additional 67 shares during the period. American Trust increased its position in Zscaler by 6.1% during the second quarter. American Trust now owns 1,210 shares of the company’s stock valued at $233,000 after acquiring an additional 70 shares during the last quarter. Valley Brook Capital Group Inc. raised its stake in shares of Zscaler by 4.0% in the third quarter. Valley Brook Capital Group Inc. now owns 1,972 shares of the company’s stock valued at $337,000 after acquiring an additional 75 shares during the period. Finally, Swedbank AB lifted its holdings in shares of 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 acquiring an additional 76 shares during the last quarter. 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.