Stifel Nicolaus Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS) had its target price increased by Stifel Nicolaus from $270.00 to $295.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on ZS. UBS Group lifted their price target on shares of Zscaler from $260.00 to $315.00 and gave the company a “buy” rating in a report on Friday. Jefferies Financial Group dropped their target price on shares of Zscaler from $245.00 to $240.00 and set a “buy” rating for the company in a research report on Monday, March 31st. BMO Capital Markets lifted their target price on shares of Zscaler from $222.00 to $233.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Needham & Company LLC increased their price target on shares of Zscaler from $240.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Roth Capital restated a “neutral” rating on shares of Zscaler in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.12.

Zscaler Price Performance

NASDAQ ZS opened at $274.03 on Friday. Zscaler has a 1 year low of $153.45 and a 1 year high of $276.49. The stock has a market capitalization of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14. The business’s 50-day moving average is $220.62 and its 200 day moving average is $206.31.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The business had revenue of $678.03 million during the quarter, compared to analysts’ expectations of $667.13 million. During the same quarter last year, the business posted $0.88 EPS. The business’s revenue was up 22.6% on a year-over-year basis. As a group, equities research analysts anticipate that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In related news, insider Syam Nair sold 28,947 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $7,236,750.00. Following the completion of the transaction, the insider now directly owns 110,566 shares in the company, valued at $27,641,500. The trade was a 20.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert Schlossman sold 3,590 shares of the stock in a transaction on Friday, May 16th. The shares were sold at an average price of $250.00, for a total value of $897,500.00. Following the sale, the insider now owns 100,230 shares in the company, valued at approximately $25,057,500. This represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 241,771 shares of company stock worth $50,165,040 over the last 90 days. 18.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

Several large investors have recently bought and sold shares of the business. SYM FINANCIAL Corp bought a new position in Zscaler during the 4th quarter valued at about $303,000. Mediolanum International Funds Ltd grew its stake in shares of Zscaler by 17.2% in the fourth quarter. Mediolanum International Funds Ltd now owns 53,646 shares of the company’s stock worth $9,800,000 after acquiring an additional 7,892 shares during the period. Choreo LLC raised its holdings in shares of Zscaler by 2.6% during the fourth quarter. Choreo LLC now owns 2,833 shares of the company’s stock valued at $517,000 after purchasing an additional 73 shares during the last quarter. Arlington Capital Management Inc. bought a new position in Zscaler during the fourth quarter valued at approximately $2,107,000. Finally, DnB Asset Management AS boosted its holdings in Zscaler by 66.8% in the fourth quarter. DnB Asset Management AS now owns 667,383 shares of the company’s stock worth $120,403,000 after purchasing an additional 267,162 shares during the last quarter. 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.