Zscaler, Inc. (NASDAQ:ZS – Get Free Report) shares traded up 6.2% on Tuesday . The company traded as high as $199.85 and last traded at $203.06. 312,857 shares were traded during mid-day trading, a decline of 77% from the average session volume of 1,361,460 shares. The stock had previously closed at $191.24.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Zscaler from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Stifel Nicolaus raised their target price on shares of Zscaler from $220.00 to $235.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Citigroup raised their target price on shares of Zscaler from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Susquehanna raised their target price on shares of Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a research note on Tuesday, December 3rd. Finally, Barclays raised their target price on shares of Zscaler from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Eleven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, Zscaler has an average rating of “Moderate Buy” and an average price target of $225.47.
Check Out Our Latest Stock Report on ZS
Zscaler Price Performance
Zscaler (NASDAQ:ZS – Get Free Report) last issued its earnings results on Monday, December 2nd. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The firm had revenue of $628.00 million during the quarter, compared to the consensus estimate of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The company’s revenue was up 26.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. As a group, analysts forecast that Zscaler, Inc. will post -0.16 earnings per share for the current year.
Insider Buying and Selling
In related news, insider Syam Nair sold 3,682 shares of the business’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the completion of the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at $28,618,917.12. The trade was a 2.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Remo Canessa sold 3,703 shares of the business’s stock in a transaction 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 approximately $44,197,603.20. This trade represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 10,248 shares of company stock worth $2,052,879. Corporate insiders own 18.10% of the company’s stock.
Institutional Investors Weigh In On Zscaler
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Global X Japan Co. Ltd. raised its holdings in Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock worth $25,000 after purchasing an additional 79 shares in the last quarter. Prestige Wealth Management Group LLC acquired a new position in Zscaler during the third quarter worth about $31,000. True Wealth Design LLC grew its position in Zscaler by 18,500.0% during the third quarter. True Wealth Design LLC now owns 186 shares of the company’s stock worth $32,000 after buying an additional 185 shares during the period. Versant Capital Management Inc grew its position in Zscaler by 136.8% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $32,000 after buying an additional 104 shares during the period. Finally, Modus Advisors LLC acquired a new position in Zscaler during the fourth quarter worth about $36,000. 46.45% of the stock is owned by hedge funds and other institutional investors.
Zscaler Company Profile
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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