Zscaler (NASDAQ:ZS) Price Target Raised to $250.00 at KeyCorp

Zscaler (NASDAQ:ZS) had its price target upped by KeyCorp from $245.00 to $250.00 in a report issued on Tuesday,Benzinga reports. KeyCorp currently has an overweight rating on the stock.

Other research analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price target on shares of Zscaler from $197.00 to $222.00 and gave the company an “outperform” rating in a research report on Tuesday. Citigroup reduced their target price on shares of Zscaler from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Robert W. Baird lowered their price target on Zscaler from $260.00 to $225.00 and set an “outperform” rating for the company in a report on Wednesday, September 4th. Cantor Fitzgerald upgraded Zscaler to a “hold” rating in a research note on Monday, November 18th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $240.00 target price on shares of Zscaler in a research note on Tuesday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Zscaler currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Zscaler Stock Down 4.7 %

ZS stock opened at $198.64 on Tuesday. The company has a 50 day moving average price of $190.79 and a two-hundred day moving average price of $185.01. Zscaler has a one year low of $153.45 and a one year high of $259.61.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings data on Monday, December 2nd. The company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.14. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.80%. The business had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. During the same period in the prior year, the firm posted ($0.18) EPS. The company’s revenue was up 26.4% on a year-over-year basis. On average, sell-side analysts anticipate that Zscaler will post -0.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Zscaler

In related news, Director Andrew William Fraser Brown sold 8,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $174.10, for a total transaction of $1,392,800.00. Following the transaction, the director now directly 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Schlossman sold 1,435 shares of the stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $181.70, for a total value of $260,739.50. Following the completion of the sale, the insider now directly owns 105,806 shares of the company’s stock, valued at approximately $19,224,950.20. This 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 valued at $5,256,651. Corporate insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Zscaler

Large investors have recently made changes to their positions in the business. Tidal Investments LLC increased its stake in shares of Zscaler by 278.9% in the third quarter. Tidal Investments LLC now owns 34,098 shares of the company’s stock worth $5,829,000 after acquiring an additional 25,099 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Zscaler during the 3rd quarter worth about $38,000. Sanctuary Advisors LLC lifted its holdings in shares of Zscaler by 48.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 11,107 shares of the company’s stock valued at $1,899,000 after buying an additional 3,608 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of Zscaler by 103.8% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 41,026 shares of the company’s stock valued at $7,013,000 after buying an additional 20,900 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Zscaler by 50.1% in the third quarter. Coldstream Capital Management Inc. now owns 2,281 shares of the company’s stock worth $397,000 after buying an additional 761 shares during the last quarter. Institutional investors and hedge funds 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.