Zscaler (NASDAQ:ZS - Get Free Report) had its price target increased by analysts at KeyCorp from $290.00 to $310.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's price objective would suggest a potential upside of 13.13% from the stock's current price.
A number of other analysts have also issued reports on the company. Roth Capital reiterated a "neutral" rating on shares of Zscaler in a research note on Wednesday. Piper Sandler reaffirmed a "neutral" rating and set a $260.00 target price (up previously from $235.00) on shares of Zscaler in a report on Friday. Stifel Nicolaus increased their price target on shares of Zscaler from $235.00 to $270.00 and gave the stock a "buy" rating in a report on Friday, May 16th. UBS Group raised their price objective on shares of Zscaler from $250.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, March 6th. Finally, Stephens reaffirmed an "overweight" rating and set a $255.00 target price on shares of Zscaler in a report on Tuesday, May 27th. Ten research analysts have rated the stock with a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $275.12.
Read Our Latest Stock Analysis on Zscaler
Zscaler Trading Up 9.1%
Shares of ZS stock traded up $22.92 during trading hours on Friday, hitting $274.03. 9,940,403 shares of the company were exchanged, compared to its average volume of 2,045,319. The firm has a fifty day simple moving average of $220.62 and a 200 day simple moving average of $206.33. Zscaler has a 52-week low of $153.45 and a 52-week high of $276.49. The stock has a market capitalization of $42.40 billion, a price-to-earnings ratio of -1,096.12 and a beta of 1.14.
Zscaler (NASDAQ:ZS - Get Free Report) last issued its quarterly earnings results on Thursday, May 29th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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 company had revenue of $678.03 million during the quarter, compared to analyst estimates of $667.13 million. During the same quarter last year, the business posted $0.88 EPS. Zscaler's quarterly revenue was up 22.6% compared to the same quarter last year. Sell-side analysts anticipate that Zscaler will post -0.1 EPS for the current year.
Insider Buying and Selling at Zscaler
In related news, insider Syam Nair sold 28,947 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $250.00, for a total transaction of $7,236,750.00. Following the completion of the sale, the insider now directly owns 110,566 shares in the company, valued at $27,641,500. This represents a 20.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Ajay Mangal sold 190,480 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $200.69, for a total value of $38,227,431.20. Following the sale, the insider now owns 2,580,210 shares of the company's stock, valued at $517,822,344.90. This represents a 6.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 241,771 shares of company stock worth $50,165,040 over the last three months. Company insiders own 18.10% of the company's stock.
Institutional Investors Weigh In On Zscaler
Several institutional investors have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. purchased a new position in shares of Zscaler in the first quarter valued at about $516,622,000. Nuveen LLC purchased a new position in shares of Zscaler in the first quarter valued at about $153,340,000. Goldman Sachs Group Inc. increased its position in shares of Zscaler by 23.4% in the first quarter. Goldman Sachs Group Inc. now owns 3,048,238 shares of the company's stock valued at $604,831,000 after acquiring an additional 578,883 shares during the period. AQR Capital Management LLC increased its position 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 valued at $173,921,000 after acquiring an additional 525,956 shares during the period. Finally, Natixis purchased a new position in shares of Zscaler in the fourth quarter valued at about $87,775,000. 46.45% of the stock is currently owned by hedge funds and other institutional investors.
About Zscaler
(
Get Free Report)
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.
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