Brokerages Set Zscaler, Inc. (NASDAQ:ZS) PT at $294.03

Shares of Zscaler, Inc. (NASDAQ:ZS) have earned an average recommendation of “Moderate Buy” from the thirty-seven brokerages that are covering the company, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $294.03.

Several brokerages recently issued reports on ZS. Wedbush lifted their price objective on Zscaler from $240.00 to $300.00 and gave the stock an “outperform” rating in a report on Friday, May 30th. Bank of America lifted their price target on Zscaler from $285.00 to $340.00 and gave the stock a “buy” rating in a research note on Monday, June 9th. Royal Bank Of Canada lifted their target price on shares of Zscaler from $288.00 to $304.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th. Canaccord Genuity Group set a $305.00 target price on shares of Zscaler and gave the stock a “buy” rating in a research report on Monday, June 2nd. Finally, BMO Capital Markets lifted their price objective on Zscaler from $233.00 to $295.00 and gave the stock an “outperform” rating in a research report on Friday, May 30th.

Zscaler Stock Performance

ZS stock opened at $302.94 on Tuesday. Zscaler has a one year low of $153.45 and a one year high of $309.19. The stock has a market capitalization of $47.17 billion, a PE ratio of -1,165.15 and a beta of 1.09. The company has a fifty day moving average of $252.28 and a 200-day moving average of $216.25.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. Zscaler had a negative net margin of 1.52% and a negative return on equity of 0.59%. The firm’s revenue was up 22.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 earnings per share. Equities analysts forecast that Zscaler will post -0.1 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Andrew William Fraser Brown sold 10,000 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $206.00, for a total value of $2,060,000.00. Following the completion of the sale, the director now owns 27,216 shares in the company, valued at $5,606,496. This represents a 26.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert Schlossman sold 3,174 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $305.07, for a total transaction of $968,292.18. Following the completion of the sale, the insider now directly owns 88,970 shares of the company’s stock, valued at $27,142,077.90. The trade was a 3.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 210,793 shares of company stock valued at $60,812,794. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Institutional investors and hedge funds have recently modified their holdings of the stock. ORG Partners LLC lifted its stake in Zscaler by 284.8% during the first quarter. ORG Partners LLC now owns 127 shares of the company’s stock valued at $26,000 after buying an additional 94 shares in the last quarter. SVB Wealth LLC purchased a new stake in shares of Zscaler in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $27,000. Colonial Trust Co SC purchased a new stake in shares of Zscaler in the 4th quarter valued at approximately $28,000. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Zscaler in the 1st quarter valued at approximately $29,000. Institutional investors and hedge funds own 46.45% of the company’s stock.

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.