Barclays Boosts Zscaler (NASDAQ:ZS) Price Target to $250.00

Zscaler (NASDAQ:ZS) had its price target lifted by stock analysts at Barclays from $220.00 to $250.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 20.79% from the stock’s current price.

Other research analysts have also recently issued reports about the company. KeyCorp increased their price target on Zscaler from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, December 3rd. Jefferies Financial Group upped their target price on Zscaler from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Cantor Fitzgerald raised Zscaler to a “hold” rating in a research note on Monday, November 18th. Oppenheimer boosted their price objective on shares of Zscaler from $230.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Scotiabank increased their target price on shares of Zscaler from $205.00 to $225.00 and gave the company a “sector outperform” rating in a research report on Tuesday, January 21st. Eleven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.56.

Zscaler Stock Down 3.6 %

Zscaler stock opened at $206.97 on Friday. The stock has a market cap of $31.76 billion, a PE ratio of -827.88 and a beta of 0.89. Zscaler has a 12-month low of $153.45 and a 12-month high of $251.55. The business’s 50-day moving average price is $195.38 and its two-hundred day moving average price is $190.31.

Zscaler (NASDAQ:ZS) last announced its quarterly earnings results on Monday, December 2nd. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.14. The company had revenue of $628.00 million for the quarter, compared to analyst estimates of $605.51 million. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm’s revenue was up 26.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.18) EPS. As a group, analysts expect that Zscaler will post -0.1 earnings per share for the current year.

Insider Activity

In related news, CEO Jagtar Singh Chaudhry sold 2,863 shares of Zscaler stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $573,516.16. Following the sale, the chief executive officer now owns 358,569 shares of the company’s stock, valued at approximately $71,828,542.08. The trade was a 0.79 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Syam Nair sold 3,682 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $200.32, for a total value of $737,578.24. Following the transaction, the insider now directly owns 142,866 shares of the company’s stock, valued at approximately $28,618,917.12. This trade represents a 2.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,248 shares of company stock worth $2,052,879 over the last quarter. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Zscaler

Large investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Zscaler by 2.0% during the fourth quarter. Geode Capital Management LLC now owns 1,658,406 shares of the company’s stock valued at $298,710,000 after purchasing an additional 32,545 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Zscaler by 25.8% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,618,176 shares of the company’s stock valued at $291,935,000 after purchasing an additional 332,307 shares during the period. Champlain Investment Partners LLC lifted 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 valued at $220,401,000 after buying an additional 283,540 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Zscaler by 120.1% in the fourth quarter. AQR Capital Management LLC now owns 964,031 shares of the company’s stock worth $173,921,000 after acquiring an additional 525,956 shares during the period. Finally, Artisan Partners Limited Partnership boosted its stake in Zscaler by 30.9% in the 4th quarter. Artisan Partners Limited Partnership now owns 868,795 shares of the company’s stock worth $156,739,000 after purchasing an additional 204,996 shares during the period. 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.