Zscaler (NASDAQ:ZS) Price Target Raised to $300.00

Zscaler (NASDAQ:ZS) had its price objective upped by Wedbush from $240.00 to $300.00 in a research report released on Friday,Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also issued reports about the stock. BNP Paribas upgraded shares of Zscaler from a “neutral” rating to an “outperform” rating and set a $260.00 price target on the stock in a research report on Monday, April 28th. Scotiabank reiterated a “sector outperform” rating and issued a $242.00 target price (up previously from $225.00) on shares of Zscaler in a research note on Wednesday, March 5th. Robert W. Baird boosted their price target on Zscaler from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, March 6th. Stephens reaffirmed an “overweight” rating and issued a $255.00 price target on shares of Zscaler in a report on Tuesday, May 27th. Finally, Citigroup reissued a “buy” rating and set a $240.00 price objective (up previously from $235.00) on shares of Zscaler in a report on Wednesday, March 5th. Ten analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company. According to data from MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.12.

Zscaler Stock Up 9.1%

Shares of NASDAQ:ZS opened at $274.03 on Friday. The company has a market cap of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14. The business has a 50 day moving average price of $220.62 and a 200 day moving average price of $206.31. Zscaler has a twelve month low of $153.45 and a twelve month high of $276.49.

Zscaler (NASDAQ:ZS) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. Zscaler had a negative return on equity of 0.75% and a negative net margin of 1.58%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. Analysts anticipate that Zscaler will post -0.1 EPS for the current year.

Insider Activity

In other Zscaler news, insider Robert Schlossman sold 2,878 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $199.15, for a total value of $573,153.70. Following the transaction, the insider now owns 107,587 shares of the company’s stock, valued at approximately $21,425,951.05. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ajay Mangal sold 190,480 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $200.69, for a total value of $38,227,431.20. Following the transaction, the insider now owns 2,580,210 shares in the company, valued at approximately $517,822,344.90. This trade represents a 6.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 241,771 shares of company stock valued at $50,165,040. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LaFleur & Godfrey LLC raised its position in shares of Zscaler by 0.6% during the fourth quarter. LaFleur & Godfrey LLC now owns 61,985 shares of the company’s stock worth $11,183,000 after purchasing an additional 399 shares during the period. Blue Trust Inc. increased its stake in Zscaler by 31.7% during the 4th quarter. Blue Trust Inc. now owns 2,051 shares of the company’s stock worth $351,000 after purchasing an additional 494 shares in the last quarter. R Squared Ltd acquired a new stake in Zscaler during the 4th quarter worth approximately $38,000. Swedbank AB lifted its stake in Zscaler by 12.6% in the fourth quarter. Swedbank AB now owns 12,797 shares of the company’s stock valued at $2,309,000 after buying an additional 1,434 shares in the last quarter. Finally, Crews Bank & Trust acquired a new position in shares of Zscaler in the fourth quarter valued at approximately $36,000. 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.