Scotiabank Boosts Zscaler (NASDAQ:ZS) Price Target to $225.00

Zscaler (NASDAQ:ZS) had its price target upped by equities researchers at Scotiabank from $205.00 to $225.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the stock. Scotiabank’s price target suggests a potential upside of 17.79% from the stock’s previous close.

ZS has been the topic of several other reports. Barclays boosted their price target on shares of Zscaler from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Jefferies Financial Group raised their price target on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Tuesday, November 26th. Canaccord Genuity Group increased their price objective on Zscaler from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Cantor Fitzgerald upgraded shares of Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC restated a “buy” rating and set a $240.00 price target on shares of Zscaler in a research note on Friday, January 10th. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, Zscaler presently has an average rating of “Moderate Buy” and an average price target of $225.47.

Zscaler Trading Up 1.8 %

Shares of ZS traded up $3.44 during midday trading on Tuesday, hitting $191.02. The stock had a trading volume of 582,563 shares, compared to its average volume of 1,431,133. Zscaler has a fifty-two week low of $153.45 and a fifty-two week high of $259.61. The business has a 50-day simple moving average of $196.20 and a two-hundred day simple moving average of $187.91. The firm has a market cap of $29.31 billion, a P/E ratio of -764.69 and a beta of 0.87.

Zscaler (NASDAQ:ZS) last released its earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.14. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company had revenue of $628.00 million during the quarter, compared to analyst estimates of $605.51 million. During the same quarter in the prior year, the company earned ($0.18) earnings per share. The company’s revenue for the quarter was up 26.4% on a year-over-year basis. On average, analysts expect that Zscaler will post -0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares of the company’s stock, valued at $44,197,603.20. The trade was a 1.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jagtar Singh Chaudhry sold 2,863 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total transaction of $573,516.16. Following the completion of the transaction, the chief executive officer now directly owns 358,569 shares in the company, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ZS. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the third quarter valued at approximately $31,000. True Wealth Design LLC grew its holdings in shares of Zscaler by 18,500.0% in the 3rd quarter. True Wealth Design LLC now owns 186 shares of the company’s stock valued at $32,000 after buying an additional 185 shares during the period. Versant Capital Management Inc increased its position in shares of Zscaler by 136.8% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $32,000 after buying an additional 104 shares in the last quarter. Modus Advisors LLC acquired a new stake in Zscaler during the 4th quarter worth $36,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Zscaler during the third quarter worth about $38,000. 46.45% of the stock is currently owned by 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.