BMO Capital Markets Issues Positive Forecast for Zscaler (NASDAQ:ZS) Stock Price

Zscaler (NASDAQ:ZS - Get Free Report) had its price target upped by stock analysts at BMO Capital Markets from $233.00 to $295.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. BMO Capital Markets' target price indicates a potential upside of 7.65% from the stock's current price.

Several other analysts also recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of Zscaler from $288.00 to $304.00 and gave the company an "outperform" rating in a research note on Friday. Stephens reaffirmed an "overweight" rating and set a $255.00 price target on shares of Zscaler in a research note on Tuesday, May 27th. Morgan Stanley reduced their price objective on shares of Zscaler from $205.00 to $200.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Robert W. Baird boosted their price objective on shares of Zscaler from $295.00 to $315.00 and gave the stock an "outperform" rating in a research note on Friday. Finally, JMP Securities boosted their price objective on shares of Zscaler from $240.00 to $310.00 and gave the stock a "market outperform" rating in a research note on Friday. Ten analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $275.12.

Zscaler Trading Up 9.1%

Shares of Zscaler stock traded up $22.92 on Friday, hitting $274.03. 9,940,403 shares of the company traded hands, compared to its average volume of 2,045,319. The stock's 50 day moving average price is $220.62 and its 200-day moving average price is $206.31. Zscaler has a 52 week low of $153.45 and a 52 week high of $276.49. The company has a market cap of $42.40 billion, a PE ratio of -1,096.12 and a beta of 1.14.

Zscaler (NASDAQ:ZS - Get Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. Zscaler had a negative net margin of 1.58% and a negative return on equity of 0.75%. The firm had revenue of $678.03 million during the quarter, compared to the consensus estimate of $667.13 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The company's revenue was up 22.6% on a year-over-year basis. As a group, research analysts anticipate that Zscaler will post -0.1 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Ajay Mangal sold 190,480 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $200.69, for a total transaction of $38,227,431.20. Following the sale, the insider now directly owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. The trade was a 6.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jagtar Singh Chaudhry sold 2,155 shares of the business's stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $199.15, for a total transaction of $429,168.25. Following the sale, the chief executive officer now directly owns 356,414 shares in the company, valued at $70,979,848.10. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 241,771 shares of company stock valued at $50,165,040 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Zscaler

Large investors have recently made changes to their positions in the stock. Anderson Financial Strategies LLC purchased a new stake in Zscaler in the first quarter valued at $238,000. Geneos Wealth Management Inc. boosted its holdings in Zscaler by 26.7% in the first quarter. Geneos Wealth Management Inc. now owns 6,170 shares of the company's stock valued at $1,224,000 after purchasing an additional 1,299 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in Zscaler by 10.8% in the first quarter. Belpointe Asset Management LLC now owns 1,166 shares of the company's stock valued at $231,000 after purchasing an additional 114 shares during the last quarter. Jupiter Wealth Management LLC purchased a new stake in Zscaler in the first quarter valued at $298,000. Finally, Focus Partners Wealth boosted its holdings in Zscaler by 2.5% in the first quarter. Focus Partners Wealth now owns 62,083 shares of the company's stock valued at $12,319,000 after purchasing an additional 1,517 shares during the last quarter. 46.45% of the stock is owned by hedge funds and other 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.