Zscaler (NASDAQ:ZS) Stock Price Expected to Rise, BTIG Research Analyst Says

Zscaler (NASDAQ:ZS) had its price objective upped by investment analysts at BTIG Research from $205.00 to $238.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price target indicates a potential upside of 17.01% from the stock’s current price.

Several other brokerages have also commented on ZS. Royal Bank of Canada reissued an “outperform” rating and issued a $230.00 price target on shares of Zscaler in a report on Wednesday, September 4th. BMO Capital Markets reduced their price target on shares of Zscaler from $208.00 to $197.00 and set an “outperform” rating for the company in a research report on Wednesday, September 4th. Oppenheimer lowered their price objective on Zscaler from $260.00 to $230.00 and set an “outperform” rating on the stock in a report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $270.00 price objective on shares of Zscaler in a research note on Monday, November 4th. Finally, Loop Capital decreased their target price on Zscaler from $180.00 to $165.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. Ten equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Zscaler has an average rating of “Moderate Buy” and an average target price of $220.29.

Zscaler Trading Down 3.3 %

Shares of ZS stock traded down $6.90 during trading hours on Wednesday, hitting $203.40. The company’s stock had a trading volume of 698,862 shares, compared to its average volume of 2,009,124. The stock has a market cap of $31.21 billion, a PE ratio of -508.49 and a beta of 0.82. Zscaler has a 12-month low of $153.45 and a 12-month high of $259.61. The company has a 50 day moving average of $188.06 and a 200 day moving average of $184.21.

Zscaler (NASDAQ:ZS) last released its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $592.90 million for the quarter, compared to analyst estimates of $567.46 million. Zscaler had a negative return on equity of 3.46% and a negative net margin of 2.66%. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. As a group, analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Transactions at Zscaler

In other news, Director Andrew William Fraser Brown sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total value of $1,392,800.00. Following the transaction, the director now owns 25,907 shares of the company’s stock, valued at approximately $4,510,408.70. The trade was a 23.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert Schlossman sold 1,435 shares of Zscaler stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $181.70, for a total transaction of $260,739.50. Following the completion of the transaction, the insider now owns 105,806 shares in the company, valued at approximately $19,224,950.20. This trade represents a 1.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,502 shares of company stock worth $5,256,651. Corporate insiders own 19.20% of the company’s stock.

Institutional Investors Weigh In On Zscaler

A number of institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of Zscaler by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,625,861 shares of the company’s stock valued at $277,327,000 after purchasing an additional 60,414 shares in the last quarter. Champlain Investment Partners LLC boosted its stake in shares of Zscaler by 28.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 1,289,350 shares of the company’s stock worth $220,401,000 after acquiring an additional 283,540 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Zscaler by 5.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 496,047 shares of the company’s stock worth $95,335,000 after acquiring an additional 25,181 shares during the period. Westfield Capital Management Co. LP increased its stake in Zscaler by 33.8% in the 3rd quarter. Westfield Capital Management Co. LP now owns 399,516 shares of the company’s stock valued at $68,293,000 after purchasing an additional 100,814 shares in the last quarter. Finally, Federated Hermes Inc. raised its holdings in Zscaler by 18.3% during the second quarter. Federated Hermes Inc. now owns 394,698 shares of the company’s stock worth $75,857,000 after purchasing an additional 61,037 shares during the last quarter. Hedge funds and other institutional investors own 46.45% of the company’s stock.

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.