Zscaler (NASDAQ:ZS) Price Target Raised to $233.00 at BMO Capital Markets

Zscaler (NASDAQ:ZS) had its price target upped by BMO Capital Markets from $222.00 to $233.00 in a research report report published on Thursday morning, Marketbeat.com reports. They currently have an outperform rating on the stock.

Several other equities research analysts have also recently weighed in on ZS. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research report on Monday, November 18th. JMP Securities reiterated a “market outperform” rating and set a $240.00 price target (down from $270.00) on shares of Zscaler in a research report on Tuesday, December 3rd. Rosenblatt Securities raised Zscaler from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $190.00 to $235.00 in a report on Thursday. Susquehanna boosted their price objective on Zscaler from $210.00 to $225.00 and gave the stock a “positive” rating in a report on Tuesday, December 3rd. Finally, BTIG Research boosted their price objective on Zscaler from $205.00 to $238.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Nine equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $232.84.

Zscaler Stock Performance

Shares of Zscaler stock opened at $202.16 on Thursday. Zscaler has a 52-week low of $153.45 and a 52-week high of $217.84. The stock’s 50-day simple moving average is $196.01 and its 200 day simple moving average is $191.57. The stock has a market capitalization of $31.02 billion, a P/E ratio of -808.64 and a beta of 0.89.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $628.00 million for the quarter, compared to analysts’ expectations of $605.51 million. During the same period in the prior year, the business posted ($0.18) earnings per share. The company’s revenue was up 26.4% on a year-over-year basis. Equities research analysts forecast that Zscaler will post -0.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $737,578.24. Following the sale, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This represents a 2.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Remo Canessa sold 3,703 shares of the stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $200.32, for a total value of $741,784.96. Following the completion of the sale, the chief financial officer now directly owns 220,635 shares in the company, valued at approximately $44,197,603.20. This represents a 1.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,248 shares of company stock worth $2,052,879. 18.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. boosted its position in shares of Zscaler by 127.4% during the fourth quarter. Global X Japan Co. Ltd. now owns 141 shares of the company’s stock valued at $25,000 after buying an additional 79 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler during the fourth quarter valued at $28,000. Stonebridge Financial Group LLC purchased a new stake in shares of Zscaler during the fourth quarter valued at $29,000. Finally, Elequin Capital LP purchased a new stake in shares of Zscaler during the fourth quarter valued at $30,000. 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.